Bigger than Evergrande!

Running into liquidity problems and trying to raise capital - just another Chinese giant with feet of clay:

Shares of Country Garden Holdings Co. fell after the company said it will place new shares at a discount to raise funds, as sluggish property sales in China crimp developers’ finances.

The Chinese home builder’s stock fell 14% to HK$3.20 in Wednesday morning trade in Hong Kong and was headed toward the biggest one-day percentage drop since March. It has lost 54% so far this year.…

The big worry is that if the Chinese economy continues to unravel then a war over Taiwan would prove a welcome distraction for the CCP.

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