Is there anything the world can learn from the Evergrande case? What the collapse of a Chinese real estate giant that crushed $300 billion in debt teaches him is what has flooded global stock exchanges and, like dominoes, has plunged markets into a new major crisis, as in the days of Lehman Brothers? The lesson is that a bubble is always around the corner when excess cash is added to financial scams and corporate overvaluations.
Take up the Ferruccio de Bortoli topic onThe economy of Corriere della Sera, On the newsstands Tomorrow Free with the newspaper, he investigates the collapse of Chinese bricks with Brunello Rosa, Professor of Economics and Finance at the London School of Economics. Evergrande has launched 778 real estate projects in 223 cities – Writing de Bortoli and Rosa -. But always, even in China of economic miracles, the multiplication of billionaires, the unsold and unpaid are the constant components of every real estate scandal. first visible to the naked eye; The second should appear in the balance sheets. Tricks to hide insolvency abound, but the basic scheme is always the so-called Ponzi method, which is a cliched financial pyramid.
Thus: Is Evergrande an isolated case or a moment of interruption in the economic and financial cycle? Perhaps we need, notes de Bortoli, to pay more attention to the causes of vulnerability and less to subjective trauma. The financial fragility of the system, of course. Debt financed by other debt. Then the antennas were raised to pick up signals of incoming crises. Behind the financial earthquake and entrepreneurship there is naturally the political fallout, which is the third term of the President of the People’s Republic of China. Xi Jinping will have to tame the consequences of the crisis also at the social level so as not to weaken, the Weekly writes in an analysis. Meanwhile, Italy faces a problem: to maintain a steady track in implementing the recovery plan on schedule, so as not to lose the billions of Europeans earmarked for recovery. On the great works, which are one of the pillars of the plan, it seems that the blame begins with whom in government and in public bodies should hurry over what, he wrote. Economie in investigation.
The cover is dedicated to Katia da Ross, the Venetian businesswoman who conquers with Irenenos the major world chefs and groups. Google, Amazon, Uber and LinkedIn use Irinox coolers in their canteens, which are part of the family business: tow, for Da Ros, in the country. Among the figures of the week is Geoffroy Lefevre, the new CEO of Ynap, the fashion e-commerce platform: Italy will be an engine of recovery in the sector, he says. And there’s Zlatan Ibrahimovic: He invests in a start-up in Milan that produces super-chewable gum to encourage focus. While Rosie Sgaravati, a landscape architect, is expanding the family gardening business’s business overseas, from the UAE to the Caribbean.
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