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Down Under
Fresh Evergrande warning as Chinese property giant owing $400billion misses its FOURTH deadline to pay off debts - and it's terrible news for Australia
2021-11-10
[Daily Mail, where America gets its news]
  • Reserve Bank of Australia worried Evergrande won't repay all of its huge debts

  • It noted property giant's $420billion debt equivalent to 2 per cent of China GDP

  • Apartment builder's debts occurring as iron ore prices fall below $US90 a tonne

  • Chinese steel production already made record cuts to steel production in 2021
Related:
Evergrande: 2021-10-25 China's debt-ridden Evergrande averts default, resumes work on more than 10 projects
Evergrande: 2021-10-11 "It's A Disastrous Day" - All Hell Breaks Loose In China's Bond Markets
Evergrande: 2021-10-11 Beyond Evergrande, China's property market faces a $5 trillion reckoning
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