Birdwatch Note Rating
2024-03-13 22:27:24 UTC - HELPFUL
Rated by Participant: F96FFA29EF8D56D0A77602F34D6D5FC5920D9EBD777769150BB3CDD8C0297E22
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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