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Evergrande: China property giant and its founder accused of $78bn fraud (www.bbc.com)

submitted 8 months ago by [email protected] to c/[email protected]

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[–] [email protected] 1 points 8 months ago (1 children)

Evergrande operates in the same sector and is a big player there. I won't shed a tear for them. What I'm saying is that hopefully them going down won't take anyone else with them and cause havoc on the whole sector.

[–] [email protected] 2 points 8 months ago

It will because now there will be a mass sale. Also China's only means of investment being houses instead of the stock market did help Evergrande pump up their bubble quite a bit.

The Evergrande director will take his golden parachute, many poorer Chinese people will be left scammed, with nothing.