Birdwatch Note Rating
2024-03-13 20:22:01 UTC - HELPFUL
Rated by Participant: 19C99014A287B37E0A1CDAFC8A35C1ED6BD276D5502AE2FCEABBA39B4BB9CE75
Participant Details
Original Note:
Added context: Xi said this only after the real estate bubble burst. China has the most indebted property developers of the world. Evergrande and Country Garden alone have debts of roughly 500 billion USD. This is due to real estate speculation. https://www.bbc.com/news/business-58579833 https://www.reuters.com/world/china/long-before-rescue-talks-country-garden-struggled-build-homes-pay-bills-2023-11-09/ https://www.scmp.com/economy/china-economy/article/3232716/chinas-too-big-fail-property-giants-just-tip-real-estate-crisis-suppliers-are-being-dragged-death
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