News Forum - China’s Evergrande Group agrees to demolish 39 apartment blocks on Hainan Island

[Thaiger]

China’s Evergrande property mess just became a whole lot worse. Now shares in the indebted property group have been suspended after the developer was told to demolish 39 buildings in Hainan, the island off the southern coast of China in the South China Sea. To be clear, that is a demolition order for 39 under-construction buildings that have been built over the past 8 years at a huge resort-style development at the Ocean Flower Island project. The project was being constructed on the largest man-made island in the world, eclipsing anything being built in the Middle East, including the Palm Islands […]

The story China’s Evergrande Group agrees to demolish 39 apartment blocks on Hainan Island as seen on Thaiger News.

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[Poolie]

Source : Reuters/Bloomberg.

It gets better. Lifted from the Epoch Times. Oooh me ribs. 

[DesperateOldHand]

2 hours ago, Poolie said:

Source : Reuters/Bloomberg.

It gets better. Lifted from the Epoch Times. Oooh me ribs. 

Might you expect anything biased and different from the usual sources?

Always require an enemy. 

[Poolie]

25 minutes ago, DesperateOldHand said:

Might you expect anything biased and different from the usual sources?

Always require an enemy. 

Errmm..NO!

Nice logo by the way.

[AdvocatusDiaboli]

2 hours ago, Poolie said:

Source : Reuters/Bloomberg.

It gets better. Lifted from the Epoch Times. Oooh me ribs. 

But you left off the real source  ….. South China Morning Post. Which is owned by the Alibaba group. Alibaba Group Holding Limited, also known as Alibaba, is a Chinese multinational technology company specializing in e-commerce, retail, Internet, and technology. 

[Nobodysfriend]

" --- The almost certain collapse of the group, in the largest property market in the world, could reverberate in world financial markets for years to come.---"

Xi Jinping does not want something like the Lehman brothers collapse in China . Chinese government is now already seeking ways to prevent the collapse of Evergrande .

It probably won't happen , this article is not up to date ...

[AlexPTY]

and we still trying to take down one at Bali Hai

[palooka]

Chinese media reports that building permits for the luxury development had been “illegally obtained”. 

Maybe this is the new China and they will remove everything "illegally obtained" 

 

[Chaz]

Maybe the world needs to remind China they illegally built Military Outposts in other Nations territorial waters and these islands either need to handed over to those Nations who own those waters, or be destroyed and China made to retreat back to their own territorial waters only. 

[Poolie]

1 hour ago, Chaz said:

Maybe the world needs to remind China they illegally built Military Outposts in other Nations territorial waters and these islands either need to handed over to those Nations who own those waters, or be destroyed and China made to retreat back to their own territorial waters only. 

The areas you talk of are under dispute, that means that currently its nobody's waters. Could be anybodies who sticks their hand up.  Including China.

[Stardust]

19 hours ago, Poolie said:

Source : Reuters/Bloomberg.

It gets better. Lifted from the Epoch Times. Oooh me ribs. 

Yes sure the brainwashed ccp China maniacs think the daily propaganda of politburo Bejing is the truth. People with no empty head or not brainwashed understand why China has the big firewall, censorship, no free press and no free speech because everything what comes from ccp China is Propaganda and fake news. Is really a joke if they start to talk about truth and media

[Stardust]

1 hour ago, Poolie said:

The areas you talk of are under dispute, that means that currently its nobody's waters. Could be anybodies who sticks their hand up.  Including China.

 

3 hours ago, Nobodysfriend said:

" --- The almost certain collapse of the group, in the largest property market in the world, could reverberate in world financial markets for years to come.---"

Xi Jinping does not want something like the Lehman brothers collapse in China . Chinese government is now already seeking ways to prevent the collapse of Evergrande .

It probably won't happen , this article is not up to date ...

Your source the global times and poliburo Bejing?

[PBS]

From Bloomberg an interesting article...

A bailout would tacitly condone the type of reckless borrowing that’s gotten one-time high-flyers like Anbang Group Holdings Co. and HNA Group Co. into trouble too. Ending moral hazard -- a tolerance in business for risky bets in the belief that the state will always bail you out -- also would make the financial system more resilient over the long run. But allowing a big, interconnected company like Evergrande to collapse would reverberate across the financial system and also be felt by many millions of Chinese homeowners. Such pain could stir discontent and weaken the Communist Party’s control. 

https://www.washingtonpost.com/business/what-is-china-evergrande-and-why-is-it-in-trouble/2021/12/05/1bfaf480-55a9-11ec-83d2-d9dab0e23b7e_story.html

[Convert54]

2 hours ago, Poolie said:

The areas you talk of are under dispute, that means that currently its nobody's waters. Could be anybodies who sticks their hand up.  Including China.

And while the dispute continues other party nations have also attempted to establish claim by erecting military structures in various places within the disputed area but the media ignore that.

[Poolie]

1 hour ago, Convert54 said:

And while the dispute continues other party nations have also attempted to establish claim by erecting military structures in various places within the disputed area but the media ignore that.

Obviously. I think at the last count it was Vietnam 37, China 5.

[Poolie]

1 hour ago, PBS said:

From Bloomberg an interesting article...

A bailout would tacitly condone the type of reckless borrowing that’s gotten one-time high-flyers like Anbang Group Holdings Co. and HNA Group Co. into trouble too. Ending moral hazard -- a tolerance in business for risky bets in the belief that the state will always bail you out -- also would make the financial system more resilient over the long run. But allowing a big, interconnected company like Evergrande to collapse would reverberate across the financial system and also be felt by many millions of Chinese homeowners. Such pain could stir discontent and weaken the Communist Party’s control. 

https://www.washingtonpost.com/business/what-is-china-evergrande-and-why-is-it-in-trouble/2021/12/05/1bfaf480-55a9-11ec-83d2-d9dab0e23b7e_story.html

Washington Post. Kicked out of China for lying about Chinese casualties in the early days of Covid. 

[Rain]

5 hours ago, Chaz said:

Maybe the world needs to remind China they illegally built Military Outposts in other Nations territorial waters and these islands either need to handed over to those Nations who own those waters, or be destroyed and China made to retreat back to their own territorial waters only. 

Certainly not China that we have to be weary of.

[Rookiescot]

5 hours ago, Poolie said:

The areas you talk of are under dispute, that means that currently its nobody's waters. Could be anybodies who sticks their hand up.  Including China.

They are not in dispute. China has been told they have no claim by the UN because it violates maritime law.

[King Cotton]

1 hour ago, Rain said:

Certainly not China that we have to be weary of.

Cool typo, too, @Rain!

[Rain]

1 minute ago, King Cotton said:

Cool typo, too, @Rain!

Thanks - should be wary. 

[PBS]

2 hours ago, Poolie said:

Washington Post. Kicked out of China for lying about Chinese casualties in the early days of Covid. 

Actually a Bloomberg article reported in the Washington Post. WaPo is blackisted via PRC's "Great Firewall" along with many other Western media organisations - IMO pathetic cowardly censorship.

[Poolie]

If they reported factually, objectively, and plain honestly, they wouldnt get hoofed. Simple. Others havent.

[Convert54]

A very simple example of the distortion  in presentation of events and issues is that about the Taiwanese objections taken up by Western media of mainland Chinese dredging  boats uploading sand from the seabed  within the  declared  6 km jurisdiction zone of  Taiwan.  A horrendus  invasion  as  put !  The reality is that this occurred within the 6 kms in the waters around a group of islands  under Taiwan territorial claim of jurisdiction but which are only  9 kms from the Chinese mainland ! Hello?   Such is the gross distortion of material facts involved in the total issue !

[Poolie]

48 minutes ago, Convert54 said:

A very simple example of the distortion  in presentation of events and issues is that about the Taiwanese objections taken up by Western media of mainland Chinese dredging  boats uploading sand from the seabed  within the  declared  6 km jurisdiction zone of  Taiwan.  A horrendus  invasion  as  put !  The reality is that this occurred within the 6 kms in the waters around a group of islands  under Taiwan territorial claim of jurisdiction but which are only  9 kms from the Chinese mainland ! Hello?   Such is the gross distortion of material facts involved in the total issue !

Quite. It's a daily occurrence.

[DesperateOldHand]

18 hours ago, Poolie said:

The areas you talk of are under dispute, that means that currently its nobody's waters. Could be anybodies who sticks their hand up.  Including China.

Uh-huh.

Last I heard, Peru and Madagascar were putting in their claim as well.