PUSHBACK Talks

Evergrande - Can China's Communist Party Save Capitalism?


Listen Later

Did you know that real estate constitutes a whopping one-third of China’s massive economy? The property sector has been used to drive growth and most household wealth is held in real estate. As a result, for years developers like Evergrande have had access to cheap money, enabling them to become small Empires.  

Recognizing that the situation was out of control, President Xi Jinping has used his "common prosperity" to establish new policies to limit the use of property as a financial tool. This latest round of policies has landed China’s second-largest property developer in a world of trouble. Now the world’s most indebted property developer, Evergrande is in debt to the tune of $310 billion and has yet to build over a million flats that have already been paid for.

Dexter Roberts, author of The Myth of Chinese Capitalism and former China bureau chief and Asia News Editor at Bloomberg Businessweek sits down with Fredrik and Leilani to delve into how Evergrande got to this point. Will the government bail the company out to prevent broader economic downturn? Or will Xi Jinping make an example of Evergrande to show that houses are for living in, not for speculation?

 

Support the show

...more
View all episodesView all episodes
Download on the App Store

PUSHBACK TalksBy WG Film

  • 4.9
  • 4.9
  • 4.9
  • 4.9
  • 4.9

4.9

20 ratings


More shows like PUSHBACK Talks

View all
Economic Update with Richard D. Wolff by Democracy at Work, Richard D. Wolff

Economic Update with Richard D. Wolff

1,991 Listeners

LSE: Public lectures and events by London School of Economics and Political Science

LSE: Public lectures and events

268 Listeners

Ideas by CBC

Ideas

396 Listeners

Jacobin Radio by Jacobin

Jacobin Radio

1,459 Listeners

The Dig by Daniel Denvir

The Dig

1,598 Listeners

Sandy and Nora talk politics by Sandy Hudson & Nora Loreto

Sandy and Nora talk politics

89 Listeners

Rev Left Radio by Revolutionary Left Radio

Rev Left Radio

3,327 Listeners

Citations Needed by Nima Shirazi and Adam Johnson

Citations Needed

3,919 Listeners

#onpoli, a TVO podcast by TVO

#onpoli, a TVO podcast

7 Listeners

LA Podcast by LA Podcast

LA Podcast

3 Listeners

Tech Won't Save Us by Paris Marx

Tech Won't Save Us

577 Listeners

The Owen Jones Podcast by Owen Jones

The Owen Jones Podcast

165 Listeners

UCLA Housing Voice by UCLA Lewis Center for Regional Policy Studies

UCLA Housing Voice

106 Listeners

The Deprogram by JT, Hakim, and Yugopnik

The Deprogram

1,053 Listeners

The Chris Hedges Report by Chris Hedges

The Chris Hedges Report

353 Listeners