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The Chinese Real Estate Giant Evergrande is Bankrupt
The Chinese Real Estate Giant Evergrande is Bankrupt
About 1.4 million people prepaid for homes that are not finished. That represents 2/3 of their debts. As these people & the banks lose money it will affect the worldwide economy. It should have been easy to see at least as early as 2020. The same bubbles are growing in different asset classes all over the planet. IF you pay attention to the big picture you can use these distortions to get very wealthy. If you do not you may lose a lot of what you have.
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The skinny
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