A Chinese bank had embezzled the supervisory funds belonging to the buyers of a real estate project in China. Hundreds of buyers launched a protest on Oct. 7. The bank being accused of embezzlement is the Ningbo branch of the China-based Ping An Bank. The local government has been asked to solve the problem of…
Will China’s Real Estate Crash Trash the Global Economy?
September 26, 2021
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Commentary Is China’s real estate-based economy on the brink of collapse? A big part of it just might be, if not all of it. Evergrande, China’s second largest real estate developer and the world’s most indebted property developer, is in danger of defaulting on loan service payments. Much of the debt is held by Chinese…
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