Neoliberal

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Free trade, open borders, taco trucks on every corner. Latest discussion thread: April 2024 **We in m/Neoliberal support:** - Free trade and competitive markets

Immigration
YIMBYism – ‘yes in my backyard’-ism
Carbon taxes
Internationalism and supranational governance – e.g. the EU, UN, NATO, IMF
LGBTQ+ rights
Democracy, human rights, civil liberties and due process Neoliberals can be found in many political parties and we are not dogmatic supporters of specific parties. But we tend to find ourselves agreeing more often with parties that espouse liberal values, internationalism and centrist economics, such as the Democrats in the US, Liberal Democrats in the UK, FDP in Germany, Renaissance/MoDem in France, the Liberal Party in Canada, and so on. **Further reading** - I’m a neoliberal. Maybe you are too.
The neoliberal mind
Neo-liberalism and its prospects
Neoliberalism: the genesis of a political swear word **News sources** Here are some suggested news sources that we like and tend to find reliable. Please note that posts and threads are not at all limited to these sources! - The Economist https://www.economist.com/
Financial Times https://www.ft.com/
The Guardian https://www.theguardian.com/
New York Times https://www.nytimes.com/
The Atlantic https://www.theatlantic.com/world/
The New European https://www.theneweuropean.co.uk/
Vox https://www.vox.com/

founded 1 year ago

Evergrande files for US bankruptcy protection as China economic fears mount (www.reuters.com)

submitted 1 year ago by CoffeeAddict@kbin.social to c/Neoliberal@kbin.social

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Embattled developer China Evergrande Group has filed for U.S. bankruptcy protection as part of one of the world's biggest debt restructurings, as anxiety grows over China's worsening property crisis and its impact on the weakening economy.

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[–] CoffeeAddict@kbin.social 1 points 1 year ago

DEBT RESTRUCTURING

China's central bank reiterated it would adjust and optimise property policies, according to its quarterly policy implementation report this week.

Since mid-2021, companies accounting for 40% of Chinese home sales have defaulted, most of them private property developers.

Longfor Group (0960.HK), China's second largest private developer, said on Friday it would try to boost profitability in response to changing supply and demand.

The Beijing-based developer posted a 0.6% rise in first-half core profit, and said it would strive to return to positive cash flow this year and not take on new interest-bearing debt.

"The China property sector is like a black hole, so many developers have been dragged into it since two years ago after Evergrande," said Winner Zone Asset Management CEO and CIO Alan Luk.

"The central government has yet to introduce (strong) measures because this is too large a hole to fill."

Reporting by Clare Jim in Hong Kong, Jonathan Stempel and Dietrich Knauth in New York, and Manya Saini in Bengaluru; Writing by Sumeet Chatterjee; Editing by Shri Navaratnam and Kim Coghill