Lets put it into perspective.
Evergrande borrowed over 300 billion, that is 300,000 piles of $1 million each.
It couldn't make an initial interest repayment of 36 million. They didn't keep 36 piles of $1m aside out of the 300,000 piles of $1m they borrowed. Armatures,they could learn a thing or two of Bernie Madoff![]()
- Forums
- Economics
- Evergrande nightmare for China