Order to liquidate property giant China Evergrande is just one step in fixing China's debt crisis

RandAlThor@lemmy.ca to World News@lemmy.world – 51 points –
Order to liquidate property giant China Evergrande is just one step in fixing China's debt crisis
apnews.com
5

This has nothing to do with China.

Evergrande China and Evergrande Hong Kong are two separate entities.

The liquidation was ordered only on the Hong Kong entity of Evergrande which makes up less than 10% of their entire operation.

This means the China Evergrande is still sitting there.

When the properties are liquidated I wonder how hard the real estate market in China will fall. The empty city real estate bubble may be getting ready to pop.