Evergrande bankruptcy fears spark a bank run in China \ stacker news ~bitcoin

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Evergrande bankruptcy fears spark a bank run in China asiatimes.com/2023/10/evergrande-bankruptcy-fears-spark-a-bank-run-in-china/

164 sats \ 3 comments \ @mf 16 Oct 2023 bitcoin

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2 sats \ 0 replies \ @orthzar 16 Oct 2023

It said it had sufficient lands and properties as collateral to cover any Evergrande-related losses.

A lot of real estate in China (and the rest of the world) is wildly over-priced. The Bank of Cangzhou may be able to pay it's loans by selling real estate at the current prices, but they won't be able to do so after the up-coming real estate crash.

0 sats \ 1 reply \ @lightwalker 16 Oct 2023

0 sats \ 0 replies \ @mf OP 16 Oct 2023

Keep spreading!