this post was submitted on 18 Aug 2023
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Neoliberal

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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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[–] theinspectorst@kbin.social 2 points 1 year ago

This shouldn't be systemic. Evergrande has been circling the drain for over a year now and by this point those big international players (etc) that were exposed to it really ought to have got out or hedged.