Katrina Northrop on the Evergrande Debt Crisis
The Lawfare Podcast
The Lawfare Institute
4.7 • 6.4K Ratings
🗓️ 26 October 2021
⏱️ 41 minutes
🧾️ Download transcript
Summary
Evergrande is a massive Chinese real estate company that has found itself with more than $300 billion in liability and no real idea of how to get out of debt. Its financial problems have come to a head in recent months, and concerns have grown about the potential of Evergrande’s debt problems to threaten the Chinese economy. It's a financial story, but one with real implications for China's broader economic picture in great power competition between the U.S. and China. To break it all down, Jacob Schulz spoke with Katrina Northrop. a reporter for The Wire China and the author of a recent profile of Evergrande and its highly mercurial CEO.
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Transcript
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| 0:29.0 | Right now, the state is kind of reasserting its control over the economy in many ways. |
| 0:40.0 | So there's not as much room for that relationship, |
| 0:44.0 | and especially in industries like real estate, |
| 0:48.0 | which the party has deemed not to be in favor anymore because of these risks that we've talked about. |
| 0:55.0 | They said they're saying, we don't want, we don't want to help you, and we won't help you. |
| 1:02.0 | And so I think they're saying, in the end, we are in control. |
| 1:06.0 | You know, this might have been a two-way relationship for a long time, |
| 1:09.0 | but in the end, we call the shots. |
| 1:12.0 | So that's not to say it won't be reshuffled in the future, |
| 1:16.0 | and maybe there'll be more space down the line, |
| 1:21.0 | but right now, they're saying we're in charge, and Shijia Yian has to fall in line. |
| 1:27.0 | I'm Jacob Schultz, and this is the LawFair podcast, October 26th, 2021. |
| 1:35.0 | Evergrande is a massive Chinese real estate company that has found itself |
| 1:39.0 | with more than $300 billion in liability, |
| 1:42.0 | and no real idea of how to get out of debt. |
| 1:45.0 | Its financial problems have come to a head in recent months, |
... |
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