China's Evergrande files for bankruptcy | CNN Business
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China’s Evergrande Group — once the country’s second-largest property developer — filed for bankruptcy in New York on Thursday.

China’s Evergrande Group — once the country’s second-largest property developer — filed for bankruptcy in New York on Thursday.

  • 0xb@lemmy.world
    26·
    1 year ago

    surprised it took this long, surprised the shock on the charts isn’t bigger around the world.

    • AlteredStateBlob@kbin.social
      19·
      1 year ago

      My best guess is that the almost two years of can kicking this conclusion was enough for most larger investors to reposition so the bag holders are now, once again, regular people.

      Only difference being that it is a large amount of Chinese citizens getting fudged, rather than US or EU citizens.

      • superphly@lemmy.world
        38·
        1 year ago

        So you’re complaining that “regular people” are too stupid to move out of their positions? What the hell kinda free market do you think this is?

    • IHeartBadCode@kbin.social
      15·
      1 year ago

      I mean… gestures towards the surroundings We’ve got a pretty large pile of “Oh shit, we’re fucked” stacked up here already. I guess add it to the pile?