The Intelligence from The Economist Unsafe as houses? Evergrande and China’s big plans
Dec 10, 2021
Don Wineland, China business and finance editor, discusses the fallout from Evergrande's default and its implications for China's financial landscape. As domestic regulations shift, foreign investors face new challenges and opportunities. Matt Steinglass, Europe correspondent, highlights cultural responses to the migrant crisis in Poland, drawing parallels to Chopin's history. He examines how a concert aims to ease tensions surrounding refugees, while both guests explore Bolivia's untapped lithium reserves and the hurdles impeding its development.
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China's Financial Landscape
- Evergrande's default has sent shockwaves through China's property sector, impacting foreign investors.
- Didi's delisting from New York's stock exchange and move to Hong Kong adds to this financial drama.
Shifting Tides in U.S.-China Finance
- Chinese companies listing in the U.S. was initially viewed positively by both countries, providing access to capital and talent.
- Now, this is rapidly changing, with potential delisting of Chinese companies from U.S. exchanges.
Reasons for Delisting
- U.S. regulators want access to Chinese companies' auditing documents, while China's cybersecurity regulator wants some companies listed domestically.
- Didi's delisting is likely due to pressure from Chinese regulators, reflecting a broader crackdown on tech companies.