The 122nd largest company in the world and one of the largest developers in China is experiencing serious financial problems. Corporate debt is $300 billion, equivalent to 2% of China’s GDP.
The company’s problems are of great concern to market observers and economists, since the collapse of the housing giant will mean a huge economic collapse and a crisis in the real estate industry not only in China itself, but also in Asia as a whole. They warn about this, among others, the financial agencies Goldman Sachs and JP Morgan.
BUSINESS INTERIA is on Facebook and you are up to date with the latest happenings
Evergrande Group specializes in building affordable housing for the Chinese middle class. The developer offered customers competitive rates and deep discounts, mainly to get the company into trouble.
Information about the poor financial condition of the developer worried co-workers and customers. The subcontractors protested in front of the Evergrande headquarters, as the company had not paid the wages owed.
Investors are also not satisfied, whose failure for the developer will mean significant money loss.
laf / grz / Reuters
Echo Richards embodies a personality that is a delightful contradiction: a humble musicaholic who never brags about her expansive knowledge of both classic and contemporary tunes. Infuriatingly modest, one would never know from a mere conversation how deeply entrenched she is in the world of music. This passion seamlessly translates into her problem-solving skills, with Echo often drawing inspiration from melodies and rhythms. A voracious reader, she dives deep into literature, using stories to influence her own hardcore writing. Her spirited advocacy for alcohol isn’t about mere indulgence, but about celebrating life’s poignant moments.
![These pensions will be paid in November 2022. Below are the gross and net interest rates [31.10.2022]](https://www.moviesonline.ca/wp-content/uploads/2022/10/These-pensions-will-be-paid-in-November-2022-Below-are.jpg "These pensions will be paid in November 2022. Below are the gross and net interest rates [31.10.2022]")
