Could China's Evergrande Spark the Next Global Financial Crisis? financial crisis

When is the due date for "Doom Day"

Good analysis! Just want to add a few specifics to your information: according to a Chinese own research, 96% of Chinese in cities own the properties they live in (usually apartments); 32% of them own two properties; more than 10% of them own three properties or even more. Currently, there are 1.4 billion Chinese, but the existing properties (in units) can already accommodate 3.0 billion people, as a result of 20 years of frenzy constructions. Why the Chinese still buy real estate? First it’s the young people forming their own families; second as you said, they treat real estate as their investment.

Just a friendly suggestion, talk slower and you'll probably get an uptick in subs 😉

China builds like they make…cheaply.

US debt crisis is coming, will be worse than 1929, n will drag the whole world down with it

Thanks for another beneficial video, Joe. btw, when I took real estate classes, they used the term 'effective demand'. One instructor said ineffective demand was essentially 'admiration'.

Great info. I’m cautious of where I invest, plus with China owning so many of not most of the american pharmaceutical companies, I steer away from any of them

In today's trading, the markets were bleeding severely but recovered slightly. Evergrande is already insolvent. In fact, it's been insolvent for years. With a debt of $300 billion down the hole, they will drag down those investors who put their money as well as counter parties involved. A chain reaction will take place just like the 2007 crisis which almost caused a mayor collapse of the whole banking and monetary system. This big developer and real state giant is now holding huge liabilities and holders of bonds to the tune of $19 billion are left to hang. The orgy of real state speculation in China is now imploding. Hundreds if not thousands of apts are sitting empty in mayor cities in China. This shows the degree of interdependence of mayor institutions and has shown the vulnerability of the global economy. This also shows China IS NOT COMMUNIST but rather state capitalism. If it were, it were not be in the mess that it is now. Mao Tzedon is turning over in his grave watching China's economy. Another possibility could have been their shares were under attack by a big hedge fund betting against it or short selling in en masse. Goldman Sachs is notorious for this practice. Marxist economist, geopolitical analyst and sociologist here.

talk about a bubble this shit is beyond crazy

What a great presentation

Why would anyone make a long term investment in real estate they don’t own? I’m not afraid of these people.

Comparing use of concrete, have you looked into differences in construction styles? Say if the US and China both built a 100 stories building, lets assume same building dimensions, would they both use the same amount of concrete?

So the US is even more sociallist to rich then even communist china. How ironic.

OMG, this is just governments moving around chess pieces, its just a game

I hope Bitcoin, Ethereum, and other cryptocurrencies RISE up before the global crash come