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Evergrande, China’s big real estate developer, which is $305 billion in debt, has been hard pressed to pay its debts that came due in the past 6 weeks.
Another $148 million came due November 10, and at least one creditor DSMA in Germany did not receive any payment on its bonds by the end of the day. It is possible, then, that Evergrande was in default on November 11. DSMA plans to go to court, which could then be the trigger for Evergrande’s official bankruptcy. Such a bankruptcy would have dire effects around the world, and has been referred to as China’s Lehman moment.
It is not yet known what direction this will take or how long it will be before Evergrande’s actual default and bankruptcy, but it seems inevitable.
https://www.youtube.com/watch?v=H2q0V6dPj_g
Dr. Stephen Jones has been writing blog posts since 2005 on a variety of topics from Bible Studies to World News, and he has been writing books since 1992. Dr. Jones' most important writings came after God brought him back into the full-time ministry in 1991. It is here that all his earlier years of searching the Scriptures began to come into clear focus. He combines a knowledge of the Old and New Testaments with a personal revelation of God that began and developed during the "wilderness" period of his life, which he often refers to as God's True Bible College... Read More
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