Name: What Evergrande’s Bankruptcy Means for Americans–and Reveals About the CCP
Uploaded: 2023-08-30T15:24:55.000Z
Description: Chinese real estate giant Evergrande has gone bankrupt. BlackRock and Pimco, an American investment firm, invested in Evergrande at one point. Following the news, the U.S. Senate discussed the risks of China’s debt crisis at a hearing, but no one there asked if the government—as in, U.S. taxpayers—would bail out Wall Street in the event of further bankruptcies in China.

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Chinese real estate giant Evergrande has gone bankrupt. BlackRock and Pimco, an American investment firm, invested in Evergrande at one point. Following the news, the U.S. Senate discussed the risks of China’s debt crisis at a hearing, but no one there asked if the government—as in, U.S. taxpayers—would bail out Wall Street in the event of further bankruptcies in China.

NTD spoke to James Gorrie, Epoch Times contributor, author of "The China Crisis: <span id="productTitle" class="a-size-extra-large celwidget" data-csa-c-id="65jusq-36uwsj-t1lul1-y5lx5i" data-cel-widget="productTitle">How China's Economic Collapse Will Lead to a Global Depression</span>," and blogger at The Banana Republican. Mr. Gorrie says the Chinese Communist Party’s "foolish" and power-hungry business practices fueled Evergrande’s collapse.

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