this post was submitted on 19 Mar 2024

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Evergrande: China property giant and its founder accused of $78bn fraud (www.bbc.com)

submitted 1 year ago by filoria@lemmy.ml to c/worldnews@lemmy.ml

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[–] sibachian@lemmy.ml 5 points 1 year ago (1 children)

yes, it's a good reminder that capitalism doesn't actually work and needs to be propped up with bailouts to ensure it doesn't collapse and gets replaced.

[–] Kusimulkku@lemm.ee 2 points 1 year ago

Well China is trying to not bail them out, at least for now. And some others have done it before too. It's just people fear the risk of doing that, hoping that by bailing them out things won't be as bad.