Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "Country Garden Is a Big Joke: A Global Giant With $250 Billion Assets, Can’t Pay $15M Interest" video.

  1. 💰 China's real estate company Country Garden is facing financial difficulties due to its failure to make an interest payment, which could lead to a credit rating downgrade and hinder its ability to secure funds from the US dollar market. 00:07 Country Garden's failure to pay a modest sum of $15.4 million within the grace period could result in a cascade of its $15 billion foreign debt and a credit rating downgrade. Country Garden's contractual liabilities amount to a staggering $700 billion, primarily from advanced payments by home buyers and outstanding accounts payable. Country Garden's immediate financial commitments total $110 billion, raising questions about where the money has gone, particularly in relation to its Forest City project in Malaysia. 📉 China's property bubble burst has led to a significant downturn for Country Garden, with dwindling property sales and mounting debts. 03:42 Country Garden reported a revenue of $200 billion in the first half of the year with a declared loss of $7 billion. Property sales for Country Garden in July amounted to $1.6 billion, which decreased to $840 million by September. Major shareholders of Country Garden cashed out $5 billion and lent the sum back to the company, positioning themselves as creditors. 💰 Country Garden, a Chinese property developer, is facing financial challenges due to shrinking sales and incomplete projects, leading to the need for additional funds. 06:45 Monthly sales have shrunk to $800 million and show signs of further decline. Rumors suggest the possibility of state-owned enterprises injecting capital into Country Garden. Country Garden is in talks with foreign creditors regarding debt restructuring. 🏠 Homeowners in rural areas of China are facing financial difficulties after purchasing houses from Country Garden. 09:45 Country Garden promised to deliver nearly 2 million housing units, but homeowners are still waiting for their houses. Homeowners have been burdened with mortgages that will last for 30 years, while Country Garden remains unapologetic. Home buyers are unable to default or file for personal bankruptcy, while other stakeholders in the real estate chain face no accountability. 📉 The decline in China's property market has led to bankruptcies, layoffs, and financial strain for local governments. 12:34 Country Garden faces bankruptcy due to the decline in the property market. Upstream industries like steel, cement, and glass manufacturing are also affected. Local governments are facing financial strain and resorting to salary cuts or layoffs.
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