| Blogs > 1ClassyLady > U r responsible for ur life |
|
Evergrande collapse could have a ‘domino effect’ on China’s property sector 恒大債彈快爆炸，許家印有牢獄之災？ China’s “highly distressed” real estate companies are at risk of collapse as the country’s highly indebted developer Evergrande is on the brink of default, warns AllianceBernstein’s Jenny Zeng. “In the offshore dollar market, there is a considerable large portion of developers (who) are implied to be highly distressed,” Zeng said. These developers “can’t survive much longer” if the refinancing channel remains shut for a prolonged period, she added. Evergrande恒大, the world’s most indebted property developer, is crumbling under the weight of more than $300 billion of debt and warned more than once it could default. Banks have reportedly declined to extend new loans to buyers of uncompleted Evergrande恒大 residential projects, while ratings agencies have repeatedly downgraded the firm, citing its liquidity crunch. ------------------------------------------------------------------------------------------------------------------------------- It is like a bombshell exploded in China but also effected on the Wall Street stock market on Monday, Sept 20th. I don't have any Chinese stock at all, so I am Okay. But my banker friend has Alibaba (BABA) that is the biggest online retail company in China. Although the retail giant Alibaba has nothing to do with the real estate developer, 恒大 Evergrande, but all of the Chinese stock has plunged any way. Private own companies learned from CCP's corruption, they are also corrupted. The worst is those Chinese people bought the properties from 恒大. It might incur a "domino effect" on Chinese economy.   Honesty is the best policy. |
|||
|
If you have read my previous blogs before, you should know I don't own any property or stock from China. I am a very honest person. I put my fortune where my mouth is. I have live in USA for 41 years, so I invest in USA. I trust U.S. government. USA let the intelligent people to get rich. Every transaction I bought or sold have computer record. I don't cheat, I p*y 30% income tax last year to "Uncle Sam". Alibaba CEO, Jack Ma马云, Tiencent 腾讯CEO Ma Huateng 马化腾, the richest Chinese person Wang Jianlin, 王健林, Hong Kong richest man Li Ka-shing李嘉誠, they are once billionaires. Now CCP torture them. In USA we have lots of billionaires. There are no need of corruption, bribery to make fortune. They don't have rich parents. There are many entrepreneurs started from their garage. They are Fortune 500 companies top CEO. In contrast to China, they used the poor, young teenagers and proletarians to 武鬥 rich and intelligent people. Mao told the proletarians to k*ll capitalists. The uneducated people thought they could rob the rich people and occupied their fortune. But CCP rob from those uneducated eventually. They are Communists. I am NOT a Chinese, NEVER been a communist. Never rob anyone or jealous of rich people. I am a Taiwanese-American. When I vote for presidential election every 4 years, the last question on the ballot asked "ethnicity". I don't choose Asian, Chinese, I chose "Other" and wrote "Taiwanese-American". I am a patriot to USA and Taiwan. Honesty is the best policy.
| ||
|
恒大Evergrande's total debt is more than its assets. The majority Chinese people who invested in Real Estate, they borrow loans from banks and they can't pay the mortgage p*yments. The banks are in deep trouble. It is like snowballs rolling down the hills. I have Real Estate investment, but I invest in the USA. I bought the properties and own the land. In China, you bought properties but CCP own the land. There is 99 years limit to rent from Chinese government. Honesty is the best policy.
|
