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China - $78 Billion Evergrande Fraud Rocks China & Risk of Property & Finance Sectors Collapsing - Joe Blogs [View all]
Evergrande has been accused of committing a $78 BILLION FRAUD by the Chinese Regulators and fined $581 Million. It is accused of overstating Revenue by 79% in 2020 and 50% in 2019 and there are now concerns that other property development companies in China have committed similar offences. The Property Sector accounts for around 25% of the Chinese Economy and the rapid growth over the past 20 years was driven by Property Developers borrowing huge amounts of debt. EVERGRANDE has over $300 BILLION of debt and has now been forced into LIQUIDATION by a Hong Kong Court. In this video I provide more details of the allegations made against Evergrande, discuss the implications for the Evergrande liquidation process, the Chinese Property sector and look at the potential impact on both the Chinese Economy and the Global Economy.
Chapters:
0:00 Intro
4:15 EVERGRANDE FRAUD
7:28 FRAUD IMPLICATIONS
12:18 EVERGRANDE FOUNDER
13:35 LARGEST FRAUDS
17:26 PROPERTY MARKET
21:41 SUMMARY & CONCLUSION
29:03 WIN STILTMAN
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