Is China Covering Up a Financial Disaster?
After the pandemic cover-up, is China covering a financial contagion?
China, the world's most indebted real estate player, misses their interest payment that was due.
Evergrande has borrowed from 100's of banks, and now these banks aren't sure they'll get their money back!!
There are over 1 million buyers, who put a down payment on an Evergrande apartment. They didn't get their homes, and they didn't get their deposits back.
In other words millions of people stand to lose their life savings.
The communist party officials have ordered the police and members of Evergrande to "crush the protests".
So why is this so important for the rest of the world?
Is China Covering Up a Financial Disasterfinancial crisiseconomy
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