In the face of rising inflation and the rising US dollar index, the economies of all countries in the world are facing great challenges. In addition, the phenomenon of unfinished buildings in China’s real estate has brought financial problems to the surface. Financial expert Xie Jinhe issued an article saying that countries participating in China’s “Belt and Road Initiative” will soon follow. , there may be a wave of defaults, and the financial market will change from an unfinished building to an unfinished country, which will be a common phenomenon in the future world.
People held up slogans and shouted loudly. Unfinished buildings appeared in 22 cities in China. Many people’s bank deposits were disappeared, and bloody conflicts broke out. Financial expert Xie Jinhe posted on Facebook. Enterprises and debt-ridden countries have shown their original shape one following another, and the collapse of the financial system caused by the unfinished construction of China is just regarding to begin. Is the world economy really heading for a recession?
Yin Naiping, a professor at the Department of Finance at National Chengchi University, said, “Until the Evergrande incident, and then to the present, we felt that it might no longer be contained. Many of these problems have surfaced on the table. The recession of the world economy seems to us that many This crisis is imminent.”
The real estate crisis broke out in China, and the financial system is also in trouble. In the past, many countries borrowed money from China to carry out infrastructure construction. They may also start to collapse one by one, from unfinished buildings to unfinished countries, especially the 68 countries participating in the “Belt and Road” initiative. , saddled with $52.8 billion in debt, and a massive wave of defaults might sweep across Africa.
Yin Naiping, a professor at the Department of Finance at National Chengchi University, said, “The final result may be that the entire debt is renegotiated. They invest so much money and they can get it back with a big discount.”
People took to the streets to protest. Sri Lanka was the first country this year that was unable to repay its foreign debt and even went bankrupt to ask for help from the IMF. Russia had previously breached its contract due to Western sanctions, and Lebanon, Belarus and Pakistan were also in danger. Recession and geopolitics are brewing at the same time. Experts warn that this is only the beginning. Emerging countries may break out into a historic wave of defaults. If the World Bank fails to rescue, the global economic turmoil will affect you and me.
(FTV News/Reported by Yang Simin and Huang Hongyu in Taipei)
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