Evergrande, China's biggest real-estate developer, is being liquidated. It has assets worth about $245 billion, but owes about $300 billion.

A Hong Kong court ordered the liquidation of China Evergrande, the world’s most indebted property developer.

Evergrande has assets of about $245 billion, but owes about $300 billion.

Its demise is a “controlled collapse,” but still raises systemic risk and will hurt investors, says an analyst.

  • rekabis@lemmy.caEnglish
    115·
    9 months ago

    and will hurt investors

    breaks out world’s tiniest violin

    Investors can go suck it, I’m in the corner of the working class.

    • DdCno1@kbin.social
      5·
      9 months ago

      I don’t think you quite understand that in this case, it’s millions upon millions of working and middle class people who put most of their life’s savings into this.

    • CaptainProton@lemmy.worldEnglish
      1·
      9 months ago

      That’s literally what the return on all the other investment is for: the assumption of risk.

      I guess it’s the same shift in mentality as the credit card processing machine asking for a tip for everything by default.

    • Jax@sh.itjust.worksEnglish
      0·
      9 months ago

      So you’re in the corner of the working class, and playing the tiniest violin at their suffering?

      Are you sure you just an awful person, or do you not read?