China's Evergrande files for bankruptcy | CNN Business
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China’s Evergrande Group — once the country’s second-largest property developer — filed for bankruptcy in New York on Thursday.

China’s Evergrande Group — once the country’s second-largest property developer — filed for bankruptcy in New York on Thursday.

  • Buelldozer@lemmy.today
    1·
    1 year ago

    Evergrande is a pyramid scheme, using real estate.

    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.