Debt payment deadline looms for China property developer Evergrande

CNBC's Eunice Yoon reports on what may happen if China’s highly indebted developer Evergrande defaults as its debt payment deadline looms.

100+ comentarios:

Catherine Hamm
Catherine Hamm:
Debtors are always like a slave to the lenders, there are many reasons to get loans but if the money is not well managed. it is always disastrous.
Rahul Studio
Rahul Studio:
everytime they say theres nothing to worry about, thats when you worry
The owner of Evergrande will be seeing a new real estate development, his jail cell.
Evergiven: Stuck my container ship in Suez Canal
Evergrande: Hold my fried rice
Join Lei's Real Talk channel to find out what is really happening in China
Mohamed Warsame
Mohamed Warsame:
Imagine those Evergrande employees who lent money/their savings to the company. Not only they will be unemployed, but they won’t get their money back either, and possibly never get hired in the real estate industry again. Insane!
Willie Fungo
Willie Fungo:
Did she just say $300 billion in debt?😂
Quantum Chem
Quantum Chem:
“While I was thinking about the horns, there before me was another horn, a little one, which came up among them; and three of the first horns were uprooted before it. This horn had eyes like the eyes of a human being and a mouth that spoke boastfully.

“As I looked,

“thrones were set in place,
and the Ancient of Days took his seat.
His clothing was as white as snow;
the hair of his head was white like wool.
His throne was flaming with fire,
and its wheels were all ablaze.
A river of fire was flowing,
coming out from before him.
Thousands upon thousands attended him;
ten thousand times ten thousand stood before him.
The court was seated,
and the books were opened.

“Then I continued to watch because of the boastful words the horn was speaking. I kept looking until the beast was slain and its body destroyed and thrown into the blazing fire. (The other beasts had been stripped of their authority, but were allowed to live for a period of time.)

“In my vision at night I looked, and there before me was one like a son of man, coming with the clouds of heaven. He approached the Ancient of Days and was led into his presence. He was given authority, glory and sovereign power; all nations and peoples of every language worshiped him. His dominion is an everlasting dominion that will not pass away, and his kingdom is one that will never be destroyed.

“I, Daniel, was troubled in spirit, and the visions that passed through my mind disturbed me. I approached one of those standing there and asked him the meaning of all this.

“So he told me and gave me the interpretation of these things: ‘The four great beasts are four kings that will rise from the earth. But the holy people of the Most High will receive the kingdom and will possess it forever—yes, for ever and ever.’

“Then I wanted to know the meaning of the fourth beast, which was different from all the others and most terrifying, with its iron teeth and bronze claws—the beast that crushed and devoured its victims and trampled underfoot whatever was left. I also wanted to know about the ten horns on its head and about the other horn that came up, before which three of them fell—the horn that looked more imposing than the others and that had eyes and a mouth that spoke boastfully. As I watched, this horn was waging war against the holy people and defeating them, until the Ancient of Days came and pronounced judgment in favor of the holy people of the Most High, and the time came when they possessed the kingdom.

“He gave me this explanation: ‘The fourth beast is a fourth kingdom that will appear on earth. It will be different from all the other kingdoms and will devour the whole earth, trampling it down and crushing it. The ten horns are ten kings who will come from this kingdom. After them another king will arise, different from the earlier ones; he will subdue three kings. He will speak against the Most High and oppress his holy people and try to change the set times and the laws. The holy people will be delivered into his hands for a time, times and half a time.

“‘But the court will sit, and his power will be taken away and completely destroyed forever. Then the sovereignty, power and greatness of all the kingdoms under heaven will be handed over to the holy people of the Most High. His kingdom will be an everlasting kingdom, and all rulers will worship and obey him.’

“This is the end of the matter. I, Daniel, was deeply troubled by my thoughts, and my face turned pale, but I kept the matter to myself.”
Jeff Tankersley
Jeff Tankersley:
The high up management cashed out of the stock 2 months before September
sam cam
sam cam:
They will be bailed out but they won’t call it a bail out.
There will be no bailout for Evergrande.

I see two scenarios happening. Either they go down uncontrolled and properly start the next global financial crisis or the ccp intervene by doing a controlled default or dismantle of Evergrande and the economic damage will be more mild. But no matter what, Evergrande will not exist in its current form much longer. There will be no bailout. We can only sit back and watch how this ends and what consequences it will have on the global economy. It all depends on if it will be a messy or controlled default.
Bobby Grady
Bobby Grady:
Look at all the keyboard millionaires. God help us
This was decades in the making. The reversal of one child policy was most telltale in recent times showing Chinese are in longer term constructive process of correcting this. Short term, they are going to adjust their yuan beyond borrowing.
300 Billion might be 3 ghost city that they build years ago ...
Kendell Friend
Kendell Friend:
Can I finally buy a cute 150 square metre apartment under 1 million in Shenzhen?
Rex II ForSure
Rex II ForSure:
I’m mad about this situation. It’s time for some answers about how this mess all started and who’s going to fix it
Piya Win
Piya Win:
Bargains time for stocks
Grant Harding
Grant Harding:
The FED will need to add another $80B per month in MBS's
Iwan Agustinus Ong
Iwan Agustinus Ong:
How about the soccer club??? Take over 100 percent by alibab
Mark Witte
Mark Witte:
Hmmm... paying back debt with real estate. Pretty sure that's called "foreclosure".
I do not invest in China stocks, it's too risky. Also, a company from China is down 10% and all the us market is also down.
wo bu
wo bu:
and this is happening with other developers in China too. This is huge folks.
Martin Jacket
Martin Jacket:
First Covid now this, thanks China!
K K:
When some company can have 300 billions of debt, why cant each one of us just borrow couple of millions of dollars and not pay back for life.
Julie Carducci
Julie Carducci:
I don't know who needs to hear this but stop saving all your money, invest some of it if you really want financial freedom
C G:
"They're, 'um, supposed, 'um, to, 'um, be, 'um, paying, 'um, back, 'um, loans, 'um, on, 'um, mortgages, 'um"
You would think when talking is 95% of the job, they'd hire someone who can freaking talk. So annoying.
lehman brothers defaulted in 600b and that was before all the money printing
Oh Boy. Jing ping is in deep trouble
M Zeek
M Zeek:
Please crash the us housing market. Thanks
Alfredo Mendez
Alfredo Mendez:
What he really asked is how much is this really about evergrande than it is about the great digital/crypto reset they are trying to start
The great reset is coming folks.
When properties in China sell for absurd amounts compared to incomes, yet there are still countless properties in ghost cities that go unoccupied, the math doesn't add up.

When you put your finger on the scale for too long to keep up the charade, eventually it's going to break, and break very badly.
The Buble will be bigger and bigger
Troy Faughn
Troy Faughn:
Level them all
Now I know why the FED wants to raise the debt ceiling.
Primordial Software
Primordial Software:
Personally I'm enjoying the cheap stocks I get to buy every paycheck recently. It's about time there was a sale. Prices have been through the roof since the covid vaccine and it's been getting ridiculous what the cost of the S&P 500 is. I'll take the discounts as long as I can.
Jennifer Milly
Jennifer Milly:
imeldo marcos
imeldo marcos:
Errr the government told the banks , they wont pay .
Juan Rodriguez
Juan Rodriguez:
The start of a market crash. I called it here remember.
Mosbah Chehab
Mosbah Chehab:
I think the Senior executives should be selling fruit on the streets.
Mc Knight
Mc Knight:
300$ billions in debts 🤣🤣🤣, good luck
Sebastian T
Sebastian T:
We need to adopt deflationary decentralized crypto currencies no more reckless goverment money printing like its a monopoly game
Well.....that escalated quickly. Gonna be a crazy week 🤪.....and they only owe the interest payment this Thursday which is 83 million usd. I'm no Einstein, but the owner of Evergrande has a net worth of 13 billion usd. He needs to come out of pocket. Its simple. Pay your dues bruh
ekraaj karki
ekraaj karki:
I love to see the china downfall....
William Breeze
William Breeze:
This situation seems interesting, looks like I'll have to do a lot of reading into evergrande. It's crazy seeing all the markets react right now, well for us long-term holders it doesn't matter 👌.
Ulle Bishope
Ulle Bishope:
Here we go.....
Nancy Quinn
Nancy Quinn:
and of course no concerns about the US and FED free $ is the same
Anisotropic Andy
Anisotropic Andy:
More market manipulation. Either evergrande goes bust w Chinese economy taking a small but sizable dent, showing resilience, or China bails them out. They won't let it get to the point of catastrophe. This is how rich ppl swoop in on the dips
RKB 2021
RKB 2021:
Greed, greed, greed!
yvvone lee
yvvone lee:
Jack Ma was told to sit in the corner, I wonder why Evergrande is not in radar. Too many cadres involved?
Evergrande needs to buy amc shares so it can moon and payoff debt
Heinz Guderian
Heinz Guderian:
The ship you called Evergrande is already sinking, There is no more hope
This brought me back to 2008 and the Lehman Brothers crash.
Dario Perez
Dario Perez:
Gonna hit us markets soon physical gold an silver all the eay
Mike Walters
Mike Walters:
the Jenga game that is the world economy went on longer than most imagined. Interesting to now know what the piece was that caused the collapse
Buffet got offered to buy it. He passed
Manish Reddy
Manish Reddy:
Eyebrows on *BOLD*
It's time to Domino Party....
George Montoya
George Montoya:
There goes the neighborhood.
Sai La Min Oak
Sai La Min Oak:
china got what they deserve
Well done nature
Xi: tell a good story
Everygrande: Yessir!
Xi: No, not like that
Nelson 🌎
Nelson 🌎:
Dmnnn bruh!
Samwell Tarly
Samwell Tarly:
"theres um little um hope um for uhhhh evergrande to uhhhhh um" whats wrong teleprompter having trouble spinning lies for you?
Robert Kauffman
Robert Kauffman:
The problem is China, developments are done by building an entire community with few pre-sales or early sales of housing as it finishes each building. It is often five years or more from breaking ground to selling units. When I saw this, I thought, this would never happen in America. Interest would bankrupt the developer.
John Stelmacher
John Stelmacher:
So I’m, uh, Umm, uh, like, ummm, like China. She needs a speech class
Andro dibox
Andro dibox:
Things going great in China
Tarot by Tieya
Tarot by Tieya:
Well... that embarrassing
If I were China Government I would buy the housing stock with easy printed money to keep the music playing.. Trickle it back into the free market for a huge profit
Salty SaltShaker
Salty SaltShaker:
Lehman Brothers moment in China:

Steve G
Steve G:
Evergrand to banks (do you want some of our properties.) Banks (the ones that are empty and falling apart No Thanks.)
gaung gaung
gaung gaung:
Damn china deserved that 😆
let elon pay that debt
San Bruno
San Bruno:
Tc Linn
Tc Linn:
Turn off the one child policy and those empty high rise condos/apartments will be filled in a jiffy.
Godzilla Mothra
Godzilla Mothra:
anyone who expect Chinese gov to bail them are probably dreaming. For years the gov has tried to pop the property bubble to no result, the same with uncontrollable debts. This evergrande could be the big lesson people need.
Hodl tudemun
Hodl tudemun:
Technology maybe developing,but human always primitif forever
Congrats china caused a lehman 2.0
Jose Cheng
Jose Cheng:
Is $300bn that we know of............
Khuong Nguyen
Khuong Nguyen:
This just sounds stressful, Im trying to get away from stress... lol ! I dont own one lick of a share and I am stress from hearing all this LOL!
Chinese Enron
Marek Kolenda
Marek Kolenda:
Hydrogen technology power can replace fuel and electric power for engine
Esteban Perez
Esteban Perez:
Music to my ears
Arpan Patel
Arpan Patel:
How Football team help this real estate company...?.
China also owns major sectors of land and property of US
Treys Subway Crumbs
Treys Subway Crumbs:
So your saying I should hodl my amc and gme. Lol ok jot that down
Hong Hong is toast #quitccp
Biochem Wang
Biochem Wang:
I did not hear anything she said ... all I noticed was her aweful make-up.
rakesh uppala
rakesh uppala:
Boycott Chinese goods services and applications
Run for cover! this could easily take down the banking system
China Soyeb
China Soyeb:
i stay in china with China Soyeb #chinasoyeb
george p
george p:
COVID effect ?
Elena Velasco
Elena Velasco:
go the other way:
your mortgage loan DEBT is their PROFIT
your car loan DEBT is their PROFIT
your C card debt is their PROFIT
Pay cash... keep cash on hand...get off of the grid now while you have the chance...
Salty Monke
Salty Monke:
Simple, no foreign companies will buy their properties because you cannot own the land privately and CCP can do anything to the legal status of those properties and landbank.

Similar thing has happened to Samsung Heavy Industry industrial complex in Ningbo. Suddenly CCP wanted to change the usage status and zoning of the land there.
China number 1 in debt, way to go! always striving for the first place on everything
Sigma Trader
Sigma Trader:
Evergrande is the laymen brother of America...
China’s falling apart
Marek Kolenda
Marek Kolenda:
US economy is in recession with 7 millions unemployment
Seagull Club
Seagull Club:
Jehovah God's government in the hands of Christ Jesus will soon eliminate all problems such as wars, crime, corruption, homelessness, injustices, inequalities. 😊😊Titus 1 :2 impossible for Jehovah God to lie
Shankar Nanda
Shankar Nanda:
Debt bomb 💣 ticking....
Tick ...tick...tick...tick..