Birdwatch Note Rating
2024-03-13 18:54:04 UTC - HELPFUL
Rated by Participant: 78F78CB82233881E2E0D063174BA9C6E61BEC173CCEF83D280913D35C8B3FEB1
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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