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China’s Evergrande veers toward collapse, unpaid debts spark protests

82 点作者 tigerlily超过 3 年前

5 条评论

SMAAART超过 3 年前
A friend did some consulting for them a couple of year ago, this is a broad summary of events:<p>- contacted<p>- discussed scope of work, grandiose, with big budget<p>- Evergrande people pressured the company to start doing work before the contract was executed by the big wigs<p>- Evergrande people pressured the company for deliverables before the contract was executed by the big wigs<p>- a few deliverable delivered (at this point we&#x27;re a couple of months in)<p>- still no contract, still no payment<p>- Evergrande people pressured the company for more deliverables before the contract was executed by the big wigs<p>- company delivers a few more deliverables, still no contract and still no money<p>- company stops working and demands payment and contract<p>- a few weeks later (we&#x27;re not 4-5 months in) payment arrives<p>- Evergrande people pressured the company for more deliverables before the contract was executed by the big wigs<p>- company delivers some more deliverables, at this point Evergrande has good executable deliverables for their project<p>- Evergrande ghosts the company, no contract, no payment for the additional services since the one and only payment<p>Damage approx $150,000 (unpaid work)<p>Life goes on
haspoken超过 3 年前
<a href="https:&#x2F;&#x2F;archive.is&#x2F;SvJqa" rel="nofollow">https:&#x2F;&#x2F;archive.is&#x2F;SvJqa</a>
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mgh2超过 3 年前
&quot;Build it and they will come&quot; startup myth <a href="https:&#x2F;&#x2F;www.youtube.com&#x2F;watch?v=7UoiO51BIIo" rel="nofollow">https:&#x2F;&#x2F;www.youtube.com&#x2F;watch?v=7UoiO51BIIo</a>
tibbydudeza超过 3 年前
Forcing employees and their families to take out loans to float the company is rather novel concept - raiding pension funds not possible in China ???.
redis_mlc超过 3 年前
What&#x27;s happening is this:<p>- China&#x27;s recent economic growth was half due to real estate, a substantial part which was speculation<p>- the &quot;real estate developers&quot; usually just take the deposits and sometimes build a property, but often not (a ponzi scheme)<p>- it only takes a small amount of embezzlement, which is rife, for the house of cards to come down. Where&#x27;s the money? In US and Canada Wsst Coast real estate, of course.<p>- this exposes the ponzi practice for most such companies<p>- which means China&#x27;s real economic growth is somewhere between half to 2&#x2F;3 of what has been reported for 2 decades<p>- this threatens investment in China as the story is adjusted down.<p>- in addition, China has stopped capital outflows since 2016, so foreign investment is one-way. (if you&#x27;re Volkswagen and you invested in building a factory in China, you got played.)
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