The biggest fraud in history just broke China's economy

Your playbook for doing business in Asia : https://statrys.com/youtube?v=pPOcHWWDd2w Open a business account: https://statrys.com/getstarted?utm_source=youtube&utm_medium=organic_video&utm_campaign=youtube_description&utm_content=pPOcHWWDd2w 0:00 Intro 01:48 The Verdict 03:32 The Domino Effect 05:17 Who Pays 06:48 China Isn't Buying 08:01 The Overflow 11:17 The Japan Question This month, 6 million Chinese families will pay a mortgage on an apartment that does not exist. Half built, sold years ago, abandoned across more than 200 cities. The man who sold most of them was once the richest person in China. Xu Jiayin built Evergrande into the biggest property developer the world has ever seen, was worth 47 billion dollars, and just got life in prison for cooking the books. Chinese social media said the sentence was too soft. He left behind 300 billion dollars of debt and a construction sector on its knees. But the real story isn't the fraud. It's what happens to the factories that were built to fill those flats, and where their production goes now that nobody at home is buying. In this video I explain how one developer broke the momentum of 1.4 billion people, why Beijing is studying Japan in 1989 line by line, and why the containers leaving those ports are landing in your favour if you buy from Asia. #Evergrande #China #realestate