China’s property giant Evergrande files for bankruptcy protection in Manhattan
Some real estate related news from China:- Country garden, China's second biggest property company after Evergrande, missed a mere 22.5M payments for dollar denominated bonds. It is trying to restructure a $340B debt owned.  https://abcnews.go.com/Business/wireStory/chinas-government-...- Li Ka Shing, richest man in Hong Kong, just offered an immediate 30% off on his newest buildings for sale- One of China's biggest shadow banks skipped payment.  These shadow banks provide liquidity to real estate companies, in short. https://www.bloomberg.com/news/articles/2023-08-16/chinese-s...Some economic related news from China:- China stopped reporting youth unemployment, estimated around 20-50%.  Which is why nobody really thinks China is growing at 5%. https://www.washingtonpost.com/world/2023/08/15/china-econom...- foreign investment fell down 87% from the same period last year, lowest level in 25 years.  https://www.bloomberg.com/news/articles/2023-08-07/china-for...- China's fertility rate dropped to record low 1.09 in 2022 https://www.reuters.com/world/china/chinas-fertility-rate-dr...- China records fewest marriages in more than 3 decades https://www.cnn.com/2023/06/12/china/china-marriages-record-...- China's exports fell by 14.5% in July from a year ago, while imports dropped by 12.4% https://www.cnbc.com/2023/08/08/china-reports-double-digit-p...- China's economy slipped into deflation https://www.bbc.com/news/business-66435870