Comments by "Cross Link" (@crosslink1493) on "The Chinese Housing Crisis: Evergrande’s Bankruptcy || Peter Zeihan" video.

  1. 1. Wasn't there another big Chinese developer that went bust not too long ago? Green Garden or similar name? 2. Nothing happens in China without Bejing's approval. I'd bet Evergrande was let go to try to either save the smaller, state-owned developers or at least buy time to figure out what to do with them. Maybe the best analogies are a very slow-motion train wreck or turning up the heat slow enough that the frog doesn't realize its being cooked? Or is it too late for that and Evergrande is the first domino in the line to fall and will quickly be followed by the rest.
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  2. Yeah, similar to what I heard. And a lot of the provincial CCP bosses who oversaw it were corrupt, they were trying to make their province/major city look economically great and skimming off their own "cut of the action." That's one reason why you occasionally heard about them "disappearing" or arrested and put on trial for corruption over the last 5(?) years.
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  3. Found out the Chinese developer I was thinking of was Country Garden. Dang, can't keep track of all these Chinese goings on without a scorecard, whether in China itself or a train station in London.
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  4. It might just be semantics and Peter's talking to a USA audience. Bankruptcy here in the USA includes a 'liquidation' bankruptcy filing for a commercial business known as Chapter 7, where the company is dissolved and all assets are transferred to creditors or sold off. 'Reorganization' of a business in bankruptcy to restart it on fresh credit in known as Chapter 11. The 'chapters' refer to the relevant parts of the Bankruptcy laws.
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  5. It started showing up on western media just before COVID, the COVID lockdowns in China just accelerated it. I sure hope a financial shakeout in China doesn't coincide with one here in the USA (and possibly Europe).
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