The issue with evergrande was they were being used by western banks to launder money and as collateral for “risky investments.” Evergrande was completely unsustainable and last I check the CPC said they would not be stepping in for any bailouts. I do not know if they took over or not. I support their takeover of any business if the purpose is to remove it from capitalist hands. Even more so if the plan is to relinquish control to a worker co-op/union structure.
But in answering the other users question one has to weight the risks on investing in this situation. If the CPC takes the company without reparations to any of the share holders then you gonna get burned. But from the few instance I personally know of (which honestly my knowledge is lacking) it seems they typically only take over when the business is either doing something super sketchy or has failed completely
They should.
Actually, didn’t they do that with Evergrande? Now all their properties are public?
The issue with evergrande was they were being used by western banks to launder money and as collateral for “risky investments.” Evergrande was completely unsustainable and last I check the CPC said they would not be stepping in for any bailouts. I do not know if they took over or not. I support their takeover of any business if the purpose is to remove it from capitalist hands. Even more so if the plan is to relinquish control to a worker co-op/union structure.
But in answering the other users question one has to weight the risks on investing in this situation. If the CPC takes the company without reparations to any of the share holders then you gonna get burned. But from the few instance I personally know of (which honestly my knowledge is lacking) it seems they typically only take over when the business is either doing something super sketchy or has failed completely