https://twitter.com/WallStreetSilv/status/1557470001032056833
Every financier & bank in the world wanted a piece of China's booming real estate & junk bond markets 4 years ago. Now, it's all imploding and $billions are vanishing — including at the largest US investment banks, hurting pension funds & IRAs. How will this end? https://t.co/btEkYsculL pic.twitter.com/0azUOfCqXG
— Laurie Garrett (@Laurie_Garrett) August 9, 2022
As of July 12, Chinese homebuyers in 22 cities stopped paying their mortgages.
In a week, that figure surged to 91 cities, affecting over 300 projects.
Real estate was once a successful driver of China’s GDP, but it is now on the brink of collapse.
So, what happened? 🧵 pic.twitter.com/767U46fAnV
— The Futurizts (@TheFuturizts) August 8, 2022
China's real estate debt bubble is bursting: pic.twitter.com/2uIQFms66D
— Hilliard MacBeth (@hmacbe) August 9, 2022
https://twitter.com/backtolife_2023/status/1555596755240189954
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Wealthy Chinese Hurting Amid Econ Downturn
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