As China’s Property Crisis Spreads, Beijing Says There’s Nothing to See
The New York Times
Global markets just weeks ago were fretting over the possible failure of Evergrande. Now the developer says the worst is over, even as other companies show signs of trouble.
When times were flush for the property developer China Fortune Land, it bought a trophy soccer club and recruited star athletes from Argentina. These days, the players with the club, Hebei F.C., are on indefinite leave because it can’t afford to keep the lights on.
The developer is one of a growing number facing financial strain in China, challenging the narrative from Beijing that it can keep the country’s corporate debt crisis under control while avoiding the disorderly collapse of its property giants.
Global markets just weeks ago were fretting over the possible failure of China Evergrande Group, the world’s most indebted property developer. Central bankers and financial figures considered the impact that its more than $300 billion of unpaid debts would have on China’s economy if Beijing stuck to its commitment not to provide a bailout.
Critics of using public money to build sports facilities dismissed the bond sale, but some of the team’s devoted followers eagerly paid in.
Since the election, Mr. Musk has used his social media company to talk up how bright the future will be under the president-elect.
Here’s what the president-elect has said he might do with your taxes, student loans, Social Security and more.
Donald J. Trump has embraced tabloids, reality TV, Twitter and cable news. This year, he moved on to podcasts and online streamers.
Donald J. Trump spent his first presidency on a collision course with America’s central bank. Will it intensify?
A little-known investment banker, a former hedge fund star and an acolyte of George Soros have the president-elect’s ear.
The U.S. presidential election result has ensured a sharp turn in economic policy expected to upend global commerce and diverge from decades of American norms.
Angel Sivado tries to move people from the streets to permanent housing. A new law makes helping her clients more of a challenge.
About 33,000 workers at the aerospace manufacturer had been on strike for nearly two months, having rejected two earlier contract offers.
Right-wing groups, which use Telegram to organize real-world actions, are urging followers to watch the polls and stand up for their rights, in a harbinger of potential chaos.
The billionaire has effectively become the star of his social media platform, transforming X into a reflection of his personal views before the election.