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What does the peril facing the Chinese megadeveloper Evergrande mean for the rest of the world?To get more China business news, you can visit shine news official website.
Insider columnist Linette Lopez looked to spell that out in a recent analysis, bringing together her years of experience covering the Chinese economy with her trademark voice. As she explained, the Evergrande drama is part of a bigger story.
"Beijing is walking an economic high-wire act, trying to replace its economic model with something unknown," she wrote in her analysis. Read on for a Q&A with Linette on what's going on in China and why it matters.Every few years, the Chinese property market starts making rumbling noises like it's going to blow. But every time that happens, the Chinese government steps in with a plan to keep the market moving and kicks the can down the road. This time, though, the Chinese government is letting the most indebted of these companies sweat it out. If they don't lay out something soon, we'll see more convulsions in markets across the globe.
There is so much noise in the world and in the economy right now that I think it's hard for people to tell what's important. I want readers to know that China's changing, closing, slowing economy is here to stay. Beijing is prepping the Chinese people for it politically. This is going to be a huge part of what the global economy is going to look like when the dust settles, and it means slower growth for the planet.
The United States and China sometimes seem destined for conflict, cold or hot. The only way we'll avoid something like that is through clear communication between nations and a clear-eyed understanding of each other's capabilities. For years, we've heard academics talk about China's growing power and what that could mean for the world, but looking at the economic and demographic data, we need to consider that we may have reached peak China already. If that is the case, what is happening to China (and the region) will become a story none of us can escape.
But leaked documents showed that the school placed only about 30% of its graduates in qualifying jobs in the first half of 2020 — even though it advertised a 74% placement rate for the year prior.After Zillow announced it would pause homebuying for the rest of 2021, questions around its homebuying business began to circulate.
To find out more, Insider examined 960 Zillow-owned homes across cities such as Atlanta, Phoenix, and Dallas. Nearly two-thirds of the houses were listed for less than Zillow paid for them. When Microsoft hired Jeffrey Ma — a serial entrepreneur and famous MIT blackjack star — to run its startup business, an exodus of senior women and HR complaints followed, insiders said.
Microsoft was banking on Ma to bring Silicon Valley star power to its business, but he's faced allegations of treating women unfairly at work and denying some women leadership positions. The company said it found no evidence of discriminatory practices, though people said Ma brought a toxic "boys' club" culture to the workplace.