- cross-posted to:
- world@lemmy.world
- worldnews
- finance@beehaw.org
- cross-posted to:
- world@lemmy.world
- worldnews
- finance@beehaw.org
China’s Evergrande Group — once the country’s second-largest property developer — filed for bankruptcy in New York on Thursday.
Their whole property market is an investment pyramid scheme hidden underneath a shell game being played by their financial market. The whole mess being overseen by a group of referees so incompetent or corrupt that even after years of attempts the problem has only gotten worse.