Rich Dad Poor Dad Author Calls Evergrande a ‘House of Cards’ While China’s Officials Prep for Firm’s Demise
The world is still focused on the financial downfall of China’s real estate giant Evergrande and according to Chinese authorities have told the private sector to get “ready for the possible storm.” Reports show that even though the People’s Bank of China already provided $18.6 billion in liquidity to ease the brunt, Beijing may not be so willing to bail the company out. Chinese Authorities Warn of a ‘Possible Storm,’ PBOC Injects $18.6 Billion Into China’s Markets Financial markets could still be in for an unruly storm if Evergrande defaults and it causes a credit contagion . According to the Wall Street Journal (WSJ) on Thursday, senior officials from China have told local authorities to prepare for the property developer Evergrande’s demise. Evergrande amassed a mountain of debt and since the fallout on September 20, the giant corporation has been shaking right down to its foundations. Evergrande was able to clear Wednesday’s debts that were due, however, it’s unknown whether or