US News real estate in China is likely to plumb the economy of the planet, the Fed pulls the alarm
China: Evergrand claim to give their keys to 57,000 owners
© Christmas Celis A real estate complex Evergrande in Beijing, October 21, 2021 The Chinese real estate group Evergrand has delivered more than 57,000 properties to their owners, said Wednesday the proponent Ultra-indebted, whose financial situation is scrutinized with concern by the markets. Evergrande, which dragged a slate estimated at 260 billion euros, is one of the largest real estate groups in China.
The difficulties of the Evergrande giant could result in a chain reaction and eventually affect the United States.
Global growth affected by the difficulties of the real estate sector in China? This is what the Fed fears, while the setbacks of the Evergrande giant, could eventually turn against the United States, according to its stability report. "Tensions in the Chinese real estate sector could test the Chinese financial system" and in fine "pose risks for global economic growth and affecting the United States," says the US Central Bank (Fed) in this SEMI report -annual.
DAX in record mood
The German key index was able to set it up on Thursday a new record. © Provided by finanzen.net Daniel Roland / AFP / Getty Images The DAX rose to the trading start by 0.47 percent to 16,035.90 points and thus overcame the record high of mid-August. Afterwards, he could overpare this again, so the high of 16,050.60 meters is now. The German Leading Index is currently booking a supplement from 0.53 percent to 16,044.51 points.
The Evergrande giant is strangled by an abyssal debt of 260 billion euros, which inflects the entire real estate sector in China, because, facing the risk of bankruptcy of several promoters, buyers are suspicious and the prices of new housing. by declining. Another Chinese real estate developer, Kaisa, whose financial position worries the markets, has suspended its quotation on Friday on the Hong Kong Stock Exchange.
the president of the optimistic Fed in September
the tensions could "spread to the Chinese financial system through Response to financial companies, a sudden correction of real estate prices or a reduction in investor risk ", still highlights the Fed. The risk is then that it spreads to the whole of the global economy, "taking into account the size of the economy and the Chinese financial system as well as its extended commercial ties with the rest of the world", is it specified in this report.
China: a sixth plenum of the CCP to reinforce Xi Jinping's right-of-way?
© AP - Mark Schiefelbein Poster of Chinese Xi Jinping Officer near the entrance of the Forbidden City in Beijing, Saturday, September 18, 2021. The Internal Parliament of the Chinese Communist Party is meeting from this Monday, November 8 to Beijing. This sixth plenum of the 19th CPC Congress should produce a "historical resolution" placing the current President Xi Jinping on the same plan as Mao Zedong and Deng Xiaoping.
The conclusions of this report contrast with the comments of the President of the Fed, Jerome Powell, who felt on September 22 that the United States was "not really directly exposed" to the difficulties of Evergrande. "The Evergrande's situation seems very special to China, which has a very high debt for an emerging market economy," he said at a press conference. However, it had worried "that it could affect the financial conditions in the world through the channels of trust".
ECB warns financial markets in front of exuberance in pandemic recovery .
(Bloomberg) - the European Central Bank (ECB) warns of risks for financial stability in the eurozone because of the increasingly excessive prices on real estate and financial markets, the risk-taking of non-banks and Increased borrowing.