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0 sats \ 0 replies \ @cryptocoin OP 21 Jul 2022 \ parent \ on: China reckons with its first overseas debt crisis bitcoin
I don't think China is outright admitting anything regarding how bad their portfolio to BRI countries looks currently. The data is, for the most part, public though -- so they don't need to admit anything, everybody that cares to know already knows.
As far as what happened to Evergrande?
That's answered an article shared with a different post here on SN:
"We Decided To Stop Paying": China's Mortgage Payment Boycott Spreads
#47520
https://www.zerohedge.com/markets/we-decided-stop-paying-all-loans-chinas-mortgage-payment-boycott-spreads-property-suppliers
And also:
China Evergrande Prepares to Shed Light on Restructuring as Creditors’ Patience Wears Thin
https://www.wsj.com/articles/china-evergrande-prepares-to-shed-light-on-restructuring-as-creditors-patience-wears-thin-11658309400
https://archive.ph/ZWdCO