Discover and read the best of Twitter Threads about #EG

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China Credit Update - Mini Thread (10/6/21) 👇👇
2. #Evergrande made headlines in the US two weeks ago when markets dropped 2%. But the slide was more likely due to gamma "unclenching" after a massive 9/17 options expiration. Since Evergrande has now been deemed "contained", attention has moved elsewhere.
3. The story was never #Evergrande. The story is a decade of unsustainable, unproductive debt fueled growth that is key to Chinese economic growth, holds the countries wealth, and is at risk of imploding as Beijing breaks the implicit debt backstop.

Read 11 tweets
1. Keep your eyes forward rather than in the rearview. As warned last week, Sunac (1918.HK) is an elephant to watch out for - huge domino if it falls.

2. Bonds had a scare in July with #EG initial descent, but regained ground. Equity isn't buying it.
9/14 Equity Trading:

Evergrande: -11.9%
*** Sunac: -11.2% ***
Country Garden: -8.1%
GZ R&F: -7.7%
Greenland: -6.0%
Vanke: -5.5%
Fantasia: -4.2%
China Resources Land: -3.3%
Shimao: -2.9%
Read 3 tweets
Konnte nicht anders. Habe meinen Sonntag mit Gedanken zu Klima & fossilem Kapitalismus begonnen. Für Anregungen & Literaturhinweise etc. bin ich dankbar (@HalleVerkehrt, @MuellerTadzio, @FFFbleibtAktiv).
Hier der Thread:
Teil der inhärenten Logik des #Kapitalismus ist die Inwertsetzungsmaschinerie auf alle Bereiche auszudehnen (Edward Said nannte es „the commodification of everything“). Potenziell wird alles zur Ware. Arbeitskraft, menschl. Beziehungen, Boden, Umwelt, saubere Luft, Wasser, etc.
Dieses System unterliegt einem Wachstumszwang – erkennbar in der Fokussierung auf bestimmte, sehr enge Kennziffern (BIP, BSP, BNE, etc). Die „Wirtschaft“ müsse „wachsen“ – ein Mantra, dass Code für die expansive Logik der Maschinerie ist.
Read 18 tweets

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