China's struggling property developers won't be getting a major bailout, authorities indicated, warning that those who "harm the interests of the masses" will be punished.
  • Lemmygradwontallowme [he/him, comrade/them]@hexbear.netEnglish
    7·
    10 months ago

    how much of these developments were greenlit by government officials who are now refusing to foot the bills?

    By that logic, most U.S real estate companies like Blackrock and Freddie Mae would be greenlit, could you be more specific…

    If we just mean which ones were state-owned (because “privatized gains, privatized losses” as one said), not much

    According to even “China collapser” Michael Pettis:

    https://twitter.com/michaelxpettis/status/1610265849528717318/photo/1

    Then again, it’s Caixin, so you can double-check…

    • FiniteBanjo
      1·
      10 months ago

      That graph shows the development agreements purchased by government has increased yoy, which contradicts what you just said…?

      • Lemmygradwontallowme [he/him, comrade/them]@hexbear.netEnglish
        7·
        10 months ago

        Well, I thought the nationalizations were more of a response, than the cause of what happened, then again…

        I mean, didn’t the whole crisis start from 2020… so I don’t understand the contradiction in my argument here…

        Elaborate it a bit more?