RE: Evergrande Already Liquidating
You are viewing a single comment's thread:
I guess the bigger problem would occur to the small depositors who paid money to the Evergrande before even the projects were started. If the Chinese government takes the back door route it would be interesting to see what happens to these small house owners who paid their hard earned tax paid money to this company owned by the businessman Hui Ka Yan. The company owes money to 171 banks and 121 financial institutions. This is in itself an alarming situation.
0
0
0.000
That is also a problem. There are many levels to this situation that are going to end up being bad for people.
Time will tell how widespread this becomes.
Posted Using LeoFinance Beta
I think this will also create the fear in the real estate sector across the world. This company was considered as too big to fail with more than 2700 projects. It was massive and its failure will definitely have gigantic effect on the investments in real estate in Asian countries.