Property sector in China was almost killed by restrictions imposed by the government there. "Evergrande files for bankruptcy protection" to try and save itself from more than " $300 billion in liabilities," today.
Country Gardens now. It was the world's 138th largest company, according to business magazine Fortune,
Since the sector's debt crisis unfolded in mid-2021, companies accounting for 40% of Chinese home sales have defaulted, most of them private property developers.
Country Gardens has Global investors including BlackRock Inc. and Allianz SE may be key stakeholders to watch in Country Garden Holdings Co.’s debt crisis given their recent exposure to the embattled Chinese property developer’s dollar bonds. BlackRock held $358.5 million of Country Garden dollar bonds, according to a filing dated Aug. 14. Allianz’s position was $301 million based on a June 30 filing. That was also when filings from others including Fidelity International Ltd. and HSBC Holdings Plc showed they were holders.
Two other numbers about China are HMMMMMMM It may be 30 million mostly poorly educated lower socio-economic rural men who have no change of finding a partner/wife! Add 3 out of 4 young people who are unemployed, and China may have a LOT of unhappy campers?
It used to be said If the US sneezes we get a cold. With the trade we have with China we may need a hospital. Excluding traded of wine and crayfish of course!
