China’s Evergrande Group — once the country’s second-largest property developer — filed for bankruptcy in New York on Thursday.

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[–] 1 point 3 years ago*

Evergrande is a pyramid scheme, using real estate.

Their whole property market is an investment pyramid scheme hidden underneath a shell game being played by their financial market. The whole mess being overseen by a group of referees so incompetent or corrupt that even after years of attempts the problem has only gotten worse.

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