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Always a pleasure to see you. This is a company that almost collapsed two years ago. Why is it filing for bankruptcy in the United States . I think it is a legal move. The Debt Restructuring Talks were already going on with hong kong, cayman islands, word has holding companies. The advantage for evergrande to file for bankruptcy in america is a gives it some protection against us creditors for the duration of that Court Process. I5 creditors for the duration of that Court ProcessCourt Process. Is there a lot of exoosure Court Process. Is there a lot of exoosure for Court Process. Is there a lot o ....
Years ago, so you are mainly looking at the riskier types of overseas investors still holding significant amounts of evergrande debts. irate amounts of evergrande debts. we can t stress enough the importance of the chinese property market. it makes up something like 25% of china s gdp, its economic output. surely given that, you would imagine beijing might step in? yes. surely given that, you would imagine beijing might step in? beijing might step in? yes, you are riuht. the beijing might step in? yes, you are right- the property beijing might step in? yes, you are right. the property sector - beijing might step in? yes, you are right. the property sector has - beijing might step in? yes, you are right. the property sector has been a very important engine of growth. it is now shrinking. beijing is stepping in, but it s a bit different this time. in previous cycles what we saw is beijing steps in, and massive stimulus after the global financial crisis. what we are seeing this time is ....