fantasia reportedly was unexpected and resulted more or less in chinese real estate starting to get locked out of international markets some numbers i roughly remember:https://twitter.com/EricMertz_KC/status/1448460489642684418 …
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yields on international chinese real estate debt are up to something like 15%, purchases by intl buyers are stalling out something like only 10-20% of the sectors debt is international so maybe they could make up for it domestically by CCP fiat, but all of it all at once? dicey
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evergrande isnt even responding to inquiries from intl lenders technically theyre still in a grace period before proper default but this seems Highly Irregular and my expectation is that intl lenders are gonna be just SOL
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reportedly china is pretty sealed up financially so maybe this is like a bomb going off inside a bunker, sucks if you're in the bunker but maybe ok if you're outside maybe maybe
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Replying to @eigenrobot
No, there’s no way. There’s middle class Chinese losing their life savings on deposits for apartments that will never get built. Even if govt steps in to make them whole, there’s a lot of people directly affected. Also laid off construction workers and suppliers
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well here the bunker is china
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