World economy

An exterior view of China Evergrande Centre in Hong Kong

Watch Evergrande: Chinese Real Estate Giant’s Debt Means 2% Of The Country’s GDP

China’s country’s largest real estate company, Evergrande, which is on the verge of bankruptcy with more than $300 billion in debt (about 2% of China’s GDP), has announced that it will not be able to pay interest next week. Weak home sales, especially in the last year, have put it in this cash-strapped position. Therefore, the situation is becoming increasingly tense. The group is described by Beijing as a “grey rhinoceros”, i.e., a large company with an alarming debt load representing a systemic financial risk.

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Medicare

American Health Care Is Worst In Rich World

Nick Ottens (Atlantic Sentinel) | The Commonwealth Fund, a century-old foundation dedicated to improving health care, places the United States behind Australia, Canada, France, Germany, the Netherlands, New Zealand, Norway, Sweden, Switzerland and the United Kingdom in its latest report. The Netherlands and Norway share first place. America is the world’s top innovator of new medications and treatments. The best medical schools are in the United States. The country spends…