Intended as China’s version of Dubai’s palm-shaped artificial island, Ocean Flower Island is a $12 billion monument to debt-fueled economic excess.
Tag: China Evergrande Group
Tuesday Briefing: Trump’s New York Fraud Trial Begins
Plus a new release of India’s electronic music from the ’70s.
Monday Briefing: U.S. Aid to Ukraine Is Uncertain
Plus NASA’s plan to build houses on the moon.
Friday Briefing: New Trouble for China Evergrande
Plus the Japanese Formula 1 driver who became a cult star.
China’s Economy Is Slowing, a Worrying Sign for the World
Economic output climbed 4 percent in the last quarter of 2021, slowing from the previous quarter. Growth has faltered as home buyers and consumers become cautious.
With Property Sales Plunging, China Evergrande Faces More Protests
The developer has tried for months to signal that its $300 billion debt problem was under control. But the challenges keep mounting.
China Evergrande Suspends Trading Shares in Hong Kong
The world’s most indebted property developer provided no details on the suspension, but it suggested an announcement “containing inside information” would come soon.
Your Monday Briefing: South Africa’s Parliament Burns
Plus a breach in the DMZ and posturing about women’s rights in China.
What Default? With Confetti and Fanfare, Evergrande Says It’s Ready to Build.
Weeks after signaling it could no longer go on, the troubled Chinese property developer has pledged to start paying its workers and completing projects again. Buyers are skeptical.
China Evergrande Has Defaulted on Its Debt, Fitch Says
A ratings agency’s declaration confirmed what investors had already suspected, but they now must wait on a restructuring plan overseen by the firm hand of Beijing.