If Xi Jinping doesn’t handle the property giant’s default carefully, the consequences could be seismic

Xi Jinping And Vladimir Putin To Establish An Alternative Financial Architecture

The threat to end United States dominance of global finance

Xi Jinping And Vladimir Putin To Establish An Alternative Financial Architecture

NEW YORK (RichTVX.com) — President Vladimir Putin held extensive talks with Xi Jinping, earlier this week, with the two world leaders agreeing on plans to establish a new shared international financial framework. In less than four months, they had four telephone conversations on cooperation in the fight against the COVID-19 pandemic, bilateral ties and how to end United States dominance of global finance. Xi Jinping called for concerted efforts by Beijing and Moscow to cope with the risks and challenges the world is facing and to jointly oppose the United States. Well, you should fear the many eyes of the servants, as the Rich TVX News Network already told you of the Chinese dragon, a legendary creature in Chinese mythology, and a spirit of hatred borne upon a dark wind. The rumours that you have heard are true: he has indeed arisen again and left his hold palace under the ocean and returned to his ancient fastness. Always after a defeat and a respite, the Reptile takes another shape and grows again. But for the moment, since most of all you need to know how this thing came to you, and that will be tale enough, this is all that we will say. The Reptile was vanquished and his spirit fled and was hidden for long years, until his shapeshift forms took shape again in Beijing some years ago. China, the world’s second largest capitalist nation after the United States, whose economy will surpass America’s in some twenty years at current rates of growth, has not embraced market freedom. Others think China represents a new kind of system that might be termed authoritarian capitalism.

The Long-Expected Default Of China Evergrande Group – With More Than $300bn Of Liabilities

The Chinese dragon arose again, and declared himself openly; and he entered the World Trade Organization long prepared for him. At that time the Chinese dragon had arisen again, and the shadow of coastal regions of China, reached out to New York. China and Russia, as responsible major countries and permanent members of the United Nations Security Council, should continue to strengthen strategic communication and coordination to make new and greater contributions to upholding world peace and stability, Xi Jinping said. There is only one problem with this picture. China Evergrande Group has officially been labeled a defaulter for the first time, the latest milestone in a months-long financial drama. The China Evergrande Group was the second largest property developer in China by sales. The China Evergrande Group also has tentacles that reach into the darkest corners of the Chinese financial system, wrapping around banks and shadow lenders. The long-expected default of China’s second biggest property developer, Evergrande – with more than $300bn of liabilities – was called on 9 December, but Xi Jinping´s obsession with stability risks is making matters worse. Xi Jinping’s problem is precisely this.

The Downfall Of Evergrande Foreshadows A Difficult Decade For Xi Jinping

Xi Jinping would like to stabilise the Chinese market without paying the cost of correcting years of bad policies that produced the bubble in China. Xi Jinping has to choose between two poor options: deflate the bubble in China by accepting debt write-offs, bankruptcies and recession; or allow inflation to rise and thereby lower the value and burden of debt. As Xi Jinping is getting ready for the 20th Party Congress in November 2022, when he is expected to be nominated leader for life, a threat to end US dominance of global finance would prove deadly, if the Chinese dragon moves to open war. Vladimir Putin and Xi Jinping, who is also general secretary of the Communist Party of China Central Committee, have been gradually moving towards such an arrangement, as United States economic sanctions against both Russia and China appear to have intensified the search for alternatives. The international trade is conducted in United States dollars, the transfer of payments goes through the SWIFT transaction system in which the United States has immense sway. The evil of the Chinese dragon cannot be wholly cured, nor made as if it had not been, but as the above mentioned economic instruments of power belong to the United States of America, and when the Chinese dragon returned and grew in might again, the US-centric financial architecture was no longer sustainable for him.

Over The Chinese Finance Market A Dark Smoke Hung

A financial partnership between Beijing and Moscow, the world’s largest energy importer and the world’s largest energy exporter, is an indispensable instrument for dethroning the United States dollar, where the Chinese dragon now dwelt again and was busy with evil. But the Chinese dragon struck too soon, before his own power was rebuilt, as the security strategy of the United States confirms that China and Russia are the main two states in Washington’s crosshairs, which makes it imperative for Vladimir Putin and Xi Jinping to establish an alternative financial architecture decoupled from the United States. The COVID-19 pandemic is still raging globally, Xi Jinping added, and this once again proves that mankind is a community with a shared future, and all countries must respond to the pandemic with solidarity and cooperation. It is true that the enemies of the United States also suffer, or they might have overwhelmed it in its weakness; but the Chinese dragon could wait, and it may well be that the reduced reliance on the United States dollar as a reserve and transaction currency, was what he chiefly desired. But if Xi Jinping doesn’t handle the property giant’s default carefully, the economic and political consequences could be seismic. The China Evergrande Group is the second largest property developer in China by sales. It is ranked 122nd on the Fortune Global 500. It is incorporated in the Cayman Islands, a British Overseas Territory, and headquartered in the Houhai Financial Center in Nanshan District, Shenzhen, Guangdong Province, China. It was founded in 1996 by Xu Jiayin. It sells apartments mostly to upper- and middle-income dwellers. In 2018, it became the most valuable real estate company in the world. In 2021, payments due on its debt, estimated in the hundreds of billions of dollars, resulted in the Evergrande liquidity crisis. This was one of the reasons for a drop in many stock market indices on September 20, 2021.The Chinese government is reportedly working to restructure Evergrande to resolve the crisis.

The Fear Of The Chinese Dragon

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