This is a good lesson to future Chinese leadership;- Always monitor debt levels before things get out of hand. Second, watch out and control housing speculations, implement effective property gain tax and maybe even a tax on second home purchase. Lastly, implement better loan application control on banks otherwise this screw up is bound to happen again. BTW, I did check out Evergrande's annual reports back till 2016. Their debt levels begun to get out of hand in 2017. The surprising thing is;- Why nobody raise any red flag back then?
@yilunli737411 ай бұрын
nah, the government has made it clear that there won't be property tax for the next 5 years
@janusjones651910 ай бұрын
Good luck with that. The US has had how many debt crisis now? And they still haven’t learnt a thing. Also I call bs on your having read the debt report and apparently discovered the problem before anyone else. Because if you did you would have made a fortune.
@omegabulldog500110 ай бұрын
@@janusjones6519 Well, I never invest in property companies AND I am not from China so not invested in Chinese market, yet.
@omegabulldog500110 ай бұрын
@@janusjones6519 BTW, I didn't say I discovered the problems BEFORE anyone else but rather their accounts were rather glaringly in the red AND their auditors could have done better by giving warnings to investors.
@user-hy3nt5ve2j10 ай бұрын
Because they know but can't solve the problem and don't intend to solve it.The underlying reason is political system issues