Birdwatch Note Rating
2024-03-13 14:46:49 UTC - HELPFUL
Rated by Participant: 9ECCC5A2D552383BAA48172AE2848D3E87EA6B64991A4F48396908C0A8A8BD81
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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