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submitted 1 year ago by filoria@lemmy.ml to c/worldnews@lemmy.ml
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[-] pudcollar@lemmy.ml 73 points 1 year ago* (last edited 1 year ago)

If a billionaire is in actual trouble, he's in China. US would have bailed out Evergrande.

[-] Gradually_Adjusting@lemmy.world 33 points 1 year ago

I have pretty severe concerns about how the Chinese government operates, but this is one thing they do right.

[-] Crikeste@lemm.ee 16 points 1 year ago

I have pretty severe concerns about the way the American government operates.

[-] skozzii@lemmy.ca 9 points 1 year ago* (last edited 1 year ago)

We have traded the literal genocide and opression for corporations performing economic genocide and opression on us.

But hey, aren't billionaires cool?

[-] yogthos@lemmy.ml 25 points 1 year ago

Imagine living in a country where the rich are actually subject to the laws like everyone else...

[-] TwinTusks@bitforged.space 8 points 1 year ago

Not exactly ... they still treated with special previllages, its just this is bit too much

[-] yogthos@lemmy.ml 6 points 1 year ago

What special privileges are they treated with?

[-] filoria@lemmy.ml 14 points 1 year ago

Gee it sure sucks that Evergrande collapsed. What a horrible sign for the Chinese economy!

[-] Blizzard@lemmy.zip 13 points 1 year ago

Fun fact: his last name means a 'dick' in Polish (the most vulgar version of that word).

[-] avidamoeba@lemmy.ca 10 points 1 year ago

Not only in Polish. Pretty sure it's most of Eastern Europe. 🤭

[-] MushuChupacabra@lemmy.world 11 points 1 year ago

Sucks to suck. This guy should be OK though, based on the CCPs history of fair trials and lenient sentencing.

[-] davel@lemmy.ml 5 points 1 year ago

Uh-huh: https://en.wikipedia.org/wiki/Incarceration_in_the_United_States

The United States has the largest known prison population in the world, it has 5% of the world's population, and 20% of the world's incarcerated persons. China, with four times more inhabitants, has less persons in prison.

[-] MushuChupacabra@lemmy.world 3 points 1 year ago

Uh-huh:

https://deathpenaltyinfo.org/policy-issues/international/executions-around-the-world

 As in previous years, execution totals do not include the estimated thousands of executions carried out by the world’s leading executioner, China, where execution data is considered a state secret; ...

[-] davel@lemmy.ml 5 points 1 year ago

Like, a whole lot of secret state executions, pinky swear. 😂

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[-] Kusimulkku@lemm.ee 10 points 1 year ago

Man all these bad news about Chinese property market, hopefully there isn't a collapse there as predicted.

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[-] PoliticallyIncorrect@lemm.ee 6 points 1 year ago

He is fucked.. he is a dead man..

[-] turkishdelight@lemmy.ml 6 points 1 year ago

Chinese do not fool around. I expect they will make an example of this guy.

[-] downpunxx@fedia.io 6 points 1 year ago

Now do Ken Griffin

[-] cyborganism@lemmy.ca 4 points 1 year ago

How do you recover that? How the hell are they going to recover what is essentially multiple time the sum of the wealth of all the top 10 richest individuals on earth???

[-] cbarrick@lemmy.world 17 points 1 year ago

multiple time the sum of the wealth of all the top 10 richest individuals on earth???

Do you mean the $78B fine or the $300B debt?

In either case, you're way over exaggerating. All of the top 14 wealthiest people have over $100B each. Jeff Bezos (#2 richest) has close to $200B alone.

https://www.forbes.com/real-time-billionaires

[-] cyborganism@lemmy.ca 7 points 1 year ago

It's even worse than I thought......... Holy fucking shit.

[-] cbarrick@lemmy.world 9 points 1 year ago* (last edited 1 year ago)

Right!?

These people have more wealth than the GDP of some nations.

Jeff Bezos has more wealth ($190B) than the GDP of Ukraine ($170B).

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[-] naturalgasbad@lemmy.ca 15 points 1 year ago

By locking up the rich, seizing their wealth, and using SOEs to take over incomplete projects for pennies.

[-] davel@lemmy.ml 13 points 1 year ago

Presumably they won’t recover, because the Chinese state isn’t coming to their rescue: China’s housing minister says real estate developers must go bankrupt if necessary

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[-] yogthos@lemmy.ml 5 points 1 year ago

You don't, the investors loose the money. That's the risk that they take investing in a business.

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this post was submitted on 19 Mar 2024
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