Xu(Hui) took excessive risk and paid the price. it is Xi who changed the rule with the "three red lines" which triggered the crisis. over night rule changing makes billionaires penniless, communists are celebrating.
Chinese Economics Thread
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Xu(Hui) took excessive risk and paid the price. it is Xi who changed the rule with the "three red lines" which triggered the crisis. over night rule changing makes billionaires penniless, communists are celebrating.
No rule changes are allow so the bubble can keep on growing, growing and growing until the whole economy blows up like what the Wall Street folks and others did before the 1997 Asian Financial Crisis, 2001 Dotcom Crash and 2008 Financial Crisis?
I find it incredulous for people to attribute every decision to Xi. But you can't expect Chinese banks to forever giving out loans in property deals when debts reach dangerous level. It is a prudent move from financial regulators that shows competency of the Chinese government.
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I think your priorities are a little bit misplaced.
LOL you calling him a loser? Why? Are you related to the owner of Evergrande or do you tend to shed your crocodile tears for the fallen Billionaires like that Chinese guy. No need to worry, you're not a Billionaire so you're just a loser just like @Overbom and myself.
Uh uh-huh poor Billionaire class... They're now going to be pushed to live in destitute, so instead of living in their many mansions, they'll be forced to live in 2 mansions and 5 cars instead of hundreds, and will be taking business class, instead of private Lear jets. Buddy, keep crying.
You obviously don't know that Evergrande played this over-leverage game into the next level. When the government was trying to stop over-leveraging, the company turned towards other "ways" to get money, off-the-books. When the government was trying to stop over-leverage, he was pushing for far.more debt than his company could handle
So, spare us your faux-outrage
If Evergrande goes under due to his incompetence, millions of people will be affected, thousands of people will lose their jobs, many people will suicide due to losing money, and in the end the damage to the economy will also affect the strategic competition between China and the US
Bookmark my post if you want, if Evergrande goes under and it also damages the economy, he will get executed 100%. This is why you are seeing him trying to sell everything he has to save the company
This is China, not the West. And China has its own ways to deal with such criminal people
How dare YOU @Overbom don't you have any shame at all and compassion towards the Billionaire class? After all, without them, the world and society becomes meaning less. The poor deserves to be the poor because they're all nothing but communists; leeches of the society. Lol
Yes, because is very normal according him, for thousands of people lose their money. Money which feed their children, money which will be invested for a better future for their children, money which could be used to pay up for their old parents to have a good life
Its also very normal for people to overnight lose everything and become poor. So many of them will turn to suicide from such a sudden lose of wealth. Then how about the affected economy where a lot of people will lose money.
People act like billionaires are above the people, maybe they think they are gods? No, for every action everyone takes, there is a consequence
And for all the actions that the Evergrande has taken, the time is coming to pay up. So for him, he better sell everything he has, even his underwear, because only then there is some chance to save his life.
This is how much I care about what happens to billionaires who damage the the people with their stupidity or arrogance: 0
Whoever damages the economy so much with their stupidity or calculated actions (applies here), will pay the price