Evergrande turns every rumour

Friday 24 September 2021

This is why you should never invest in China. There is no transparency.

Evergrande has descended into an every rumour debacle in which interest now run the show as Beijing dithers. Zero Hedge wraps it nicely:

Update (0810ET): Piling on to the chaotic swings in Evergrande, Bloomberg reports that the embattled property developer’s electric-car unit has missed salary payments to some of its employees and has fallen behind on paying a number of suppliers for factory equipment, according to people familiar with the matter.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.