The Intelligence: China’s ever grander property crisis
Economist Podcasts
The Economist
4.3 • 5K Ratings
🗓️ 30 January 2024
⏱️ 26 minutes
🧾️ Download transcript
Summary
One of the country’s biggest property companies, Evergrande, has been crippled by its debt. What does a new court order mean for prospective homebuyers, and the firm’s creditors? Is there a way for Joe Biden to be replaced by the Democrats’ presidential candidate (09:45)? And the story of the life of a Mossad chief (15:57).
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Transcript
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| 0:00.0 | Hi there. I'm off this week. |
| 0:04.6 | Apparently we're more productive at work after a good holiday. |
| 0:12.1 | So I'm counting this Caribbean rum distillery tour as professional development. Yours calling. Take your holiday as seriously as British Airways |
| 0:27.1 | holidays take your holiday. Atul protected. This episode is sponsored by Tradeu, the multi-asset platform that lets you trade with an institutional edge. |
| 0:40.6 | Get access to Jeffrey's research, trading view and analyst AI. |
| 0:45.2 | All free with your trade-do account. |
| 0:48.1 | Tradeu. Your trade, your move. |
| 0:51.7 | Explore more at tradeu.com. Your capital is at risk, terms and conditions apply. |
| 1:00.8 | The Economist |
| 1:06.0 | Hello and welcome to the intelligence from The Economist. I'm your host, Oire Ogunbei. Every weekday, we provide a fresh perspective on the events shaping your world. |
| 1:22.2 | As Donald Trump edges closer to securing the Republican nomination, there are growing worries about the |
| 1:28.3 | Democrats' chances of being re-elected. Is the party stuck with Joe Biden? |
| 1:33.3 | And on the life of Zvi-Zemir, the former director of Mossad, Israel's intelligence agency, who oversaw |
| 1:41.3 | the response to the murder of 11 of his compatriots at the 1972 Olympics in Munich. |
| 2:00.0 | First up, though, no firm has been more central to China's property crisis than Evergrand. |
| 2:12.7 | It is the world's most indebted real estate developer with more than $300 billion in liabilities. |
| 2:19.8 | Its troubles unnerved the whole population, prompting the rarest of events in China. |
| 2:26.2 | Protests. Yesterday, a judge in Hong Kong ordered Everground's liquidation. She said, enough is enough, after the company failed to come up with a plan to restructure |
| 2:38.5 | its debt. |
| 2:40.1 | Most of the company's assets are in China, where the property market was already in turmoil. |
| 2:45.6 | But this ruling could pit Hong Kong's courts against a Chinese government, which has been |
| 2:50.7 | trying to restore public confidence in the industry. |
... |
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