extreme measures, from the pictures we have been seeing, talk us through. we have been seeing, talk us throu~h. ~ ., we have been seeing, talk us throu~h. ~ . , ., , we have been seeing, talk us throu~h. . , , , through. we are protesting because we want a fair through. we are protesting because we want a fair revenue. through. we are protesting because we want a fair revenue. we - through. we are protesting because we want a fair revenue. we produce food for the people and we take care of the nature, so we deserved to be treated with decency. of the nature, so we deserved to be treated with decency. yet of the nature, so we deserved to be treated with decency. yet because of the nature, so we deserved to be treated with decency. yet because of free trade agreement and market deregulation, the prices we are being paid for products is being lower and lower, while our cost of production are increasing. so it is not ok any more, we want fair revenues, and for this we need to
like shareholdings and some other subsidiary companies, those assets are very readily accessible. the issue is that most of the company s assets are onshore in mainland china, they are land, properties the company had 1,200 projects at different stages of development as of 2022. but those assets are going to be tricky to access. in theory, hong kong and mainland have a 2021 arrangement for resolving insolvent companies like evergrande, but in practice what needs to happen is mainland courts will need to recognise this liquidation, but they also need co operation from local governments. i think it will be very tricky. this is just one stage in what is likely to be still quite prolonged process if the off shore creditors wish to get hold of ultimately money which comes from mainland property assets. let s talk to hong bo, professor of financial economics in the school of finance and management at london s soas university. the chinese government is unlikely to allow evergrande
countries will include the united kingdom, bahrain, canada, france, italy and spain, among others. this is notjust a us issue, this is an international problem and it deserves an international response. and that s why i m convening a meeting tomorrow, a ministerial meeting, with fellow ministers in the region and beyond to address this threat. for exactly what this shipping disruption might mean for the global economy, i spoke to hung tran, who s a seniorfellow at the atlantic council and also former deputy director at the international monetary fund. this area of the red sea leading to the suez canal is quite important in terms of the volume of trade passing through it. about 12% of global trade passes through the red sea, including 30% of the container shipping. all together, it accounts for about us$1 trillion per year of world trade, so it is quite significant, and a disruption there would cause damage to world trade. aside from avoiding this area, what can companies do
we start in china where earlier today we got to see more evidence of its economic difficulties. new home prices fell for the fifth straight month in november while property investment dropped 9.4% over the year so far. retail sales growth missed forecasts but on the plus side, industrial output, what those factories churn out, expanded in november at its fastest pace since the start of last year. the world bank is forecasting that china s economy will slow next year, with annual growth falling from 5.2% to 4.5%. duncan wrigley is chief china economist at pantheon macroeconomics. he told us more about the economic data we ve seen come out today from china. the general picture is pretty soft, soggy. one standout piece of data, actually, is the accelerated decline in existing home prices. now, property market, as i m sure everyone knows, is very weak in china. but part of the process is going to be clearing some of the excess overhang. there s a lot of investment properties boug