Signs of economic slowdown have been mounting in China for months, and some experts say the country is teetering on a recession. On Monday, news broke of the insolvency of property giant China Evergrande Group, the world’s most indebted real estate developer, with more than $300 billion of total liabilities.
Kent Beadle with Paradigm Futures says Evergrande has been in trouble for a very long time but was told by a Hong Kong Court it’s time to liquidate. The news has spurred fears the Chinese economy might significantly dip, which would have some impact on demand for U.S. ag commodities.
January 30, 2024
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