we begin with china s evergrande because the slow motion collapse of the world s most indebted property developer has entered a new stage. evergrande has filed for bankruptcy protection in the us as the company pursues a prolonged restructuring agreement with international creditors that hold billions of dollars in bonds. according to the financial times, evergrande has liabilities of $340 billion. last month, it unveiled losses of $81 billion over 2021 and 2022 period. meanwhile, another major developer, country garden, has warned it may not be able to make interest payments on bonds as it struggles to find the cash to finish projects around the country. duncan wrigley is chief china economist at pantheon macroeconomics.
i m aaron heslehurst. we begin with china s evergrande because the slow motion collapse of the world s most indebted property developer has entered a new stage. evergrande has filed for bankruptcy protection in the us as the company pursues a prolonged restructuring agreement with international creditors that hold billions of dollars in bonds. according to the financial times, evergrande has liabilities of $3110 billion. last month, it unveiled losses of $81 billion over 2021 and 2022 period. meanwhile, another major developer, country garden, has warned it may not be able to make interest payments on bonds as it struggles to find the cash to finish projects around the country. duncan wrigley is chief china economist at pantheon macroeconomics.
aims to unveil some debt restructuring terms in order to seek another adjournment. it began one of china s biggest debt restructuring processes early last year but has yet to reach agreements with bondholders on the details. with more than $300 billion in liabilities, it defaulted on its debts in 2021. duncan wrigley is chief china economist at pantheon macroeconomics. good morning to you, duncan. so this is a story that sort of emerged, as we say, when evergrande first began to look shaky. what is likely to happen today in hong kong and what you think the outcome will be? well, there are some initial reports that the debt holders have agreed to evergreen s latest terms, which are due to be released on wednesday to the debt holders. they are likely
Li Yining mentored some of the Communist Party’s seniormost members, including Premier Li Keqiang, while his teachings continue to help guide China’s economic transformation.