China Evergrande ordered to liquidate, owing $300 bln

[Irish_Dem]

9. The real estate sector is just one problem.

Chinese municipalities are deeply in debt to the tune of $12 Trillion. Yes Trillion.

They kept borrowing money to build useless infrastructure projects.
The Chinese government thought this was the best investment, but the projects don't bring in revenue.

Xi has also been loaning huge sums of money to third world countries to seduce them into
allegiance called Chinese debt traps.

Now these countries cannot pay back the debt due to the global recession caused by Putin's invasion of Ukraine.
So China is on the hook for $trillions there as well.

Now Xi's latest brainstorm is to subsidize the Chinese stock market which is crashing.
At some point you have to pay the piper, so Xi is clueless, totally clueless, about how to run an economy.

Chinese experts are so disturbed about what is happening they are speaking out publicly at great risk
to themselves personally.