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China's housing minister says real estate developers must go bankrupt if necessary (www.cnbc.com)

submitted 5 months ago by [email protected] to c/[email protected]

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[–] [email protected] 53 points 5 months ago* (last edited 5 months ago) (5 children)

It's actually quite funny how people foresaw the downfall of the Chinese economy following Evergrande, and it just kinda carried on as normal because the Chinese govt refused to bail them out.

No doubt some people are gonna get burned by that policy too, but they made the right choice by not rewarding a company that clearly had significant financial management issues.

[–] [email protected] 22 points 5 months ago

Meanwhile here in italy when a major company fails and goes bankrupt because of shitty management, corruption and greed, we first "save" it with public funds, then sell it to someone else to profit off of it

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