We need a bit of stabilization of evergrande group and the cloud it is currently covering over Chinese property developers - seems rating changes Friday have caused further deterioration in their bonds which were halted - obviously a lot of steel goes into buildings and it seems China government want to dampen rocketing prices
I gather the owner will lose his fortune and China will Get a more stable housing price which like many countries is causing abbot of angst
time will tell- certainly a lot more press today from locals after and abc but issue has been front and centre last few weeks
some sort of restructure or bailout will occur imo as China doesn’t like parts of thier economy destabilized too much and property development is a large factor in gdp
and china like to grow - it’s part of thier pride and part of their global standing
https://www.reuters.com/business/china-evergrande-bonds-suspended-prices-slump-2021-09-06/
We need a bit of stabilization of evergrande group and the cloud...
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