this post was submitted on 18 Aug 2023
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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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[–] Neblib@mastodo.neoliber.al 1 points 1 year ago

@CoffeeAddict I don't see it being a 2008 level crisis, but its likely to get worse before it gets better with all the stuff stacked up on China right now. In their politics leading to some western disentanglement, their generational population risks, high interest rates reducing international investment, and catchup from pandemic total lockdowns, they got a lot on their plate.