[Epoch Times October 14, 2021]Hello, everyone, this is Zhao Pei.
Today’s focus: At the critical moment when the President of the International Monetary Fund (IMF) was accused of fraud by the CCP, the IMF still issued a report to endorse the CCP! Why is the Evergrande crisis attracting global attention? How much Evergrande debt did the Western Fund buy? (Zhao Peiwei video)
IMF is the abbreviation of International Monetary Fund. Last week, the IMF experienced a bloody storm. The cause of the whole incident was that the current president of the IMF, Georgieva, was accused of working at the World Bank. Suspected of manipulating data for the CCP.
The news was first published on September 23, 2021, by the British “The Economist” magazine, accusing IMF President Georgieva of helping the CCP to falsify data and should resign. The news quoted an allegation in a report provided by WilmerHale Law Firm, saying that “Georgieva once thanked a bank researcher for calling the other party the CCP’s falsification of data”, which was “a contribution to multilateralism. force”.
These fake data helped the CCP’s ranking in the Business Environment Report 2018 increase from 85 to 78. Of course, Georgieva denied this accusation.
This case split the IMF board of directors into two camps. The United States and Japan insisted on Georgieva’s resignation, while the United Kingdom, Germany, France, Russia and China stood aside and supported Georgieva’s stay. On October 8, 2021, the board of directors had no results after five hours of debate. Note that the term used in the news is “debate” rather than meeting. Since the debate is definitely not so harmonious, to put it bluntly, it means arguing for 5 hours.
On Sunday, October 10, the board of directors discussed with Georgieva and the law firm responsible for the investigation for a whole day until the evening. On Monday, October 11, the board of directors held another day of meetings and finally made a decision, and Georgieva stayed.
The U.S. Treasury Secretary Yellen issued a public statement, “Georgieva and other IMF leaders must once again commit to maintaining transparency in research, analysis, and policy.” This statement shows that Yellen clearly does not trust the IMF data and even suspects that the IMF is being The CCP infiltrated.
IMF endorses the CCP that Evergrande missed the third bond payment deadline
At this time, the IMF organization is still endorsing the CCP. The IMF stated in the semi-annual Global Financial Stability Report (GFSR) that the CCP is capable of solving the debt problem of Evergrande Group, but this analysis is contrary to the reality in the market.
Evergrande has missed the third bond payment deadline on October 11, and the 30-day grace period for the first bond payment deadline of Evergrande will end between October 18 and 19. Financial technology terms sound very complicated. Simply put, Evergrande will officially default if it does not repay its debts.
Therefore, the Western world is very worried about Evergrande’s debt. On October 6, US Secretary of State Blincoln urged the Beijing government to take “responsible” actions against the financial crisis triggered by Evergrande. Why does the West attach so much importance to Evergrande’s debt crisis? Because Western pension funds and other funds have speculated in China’s real estate market, some even bought a large amount of Evergrande bonds.
A list on Twitter lists Evergrande’s overseas creditors, including BlackRock, Credit Agricole, Swiss Bank Group, Ashburn, and Japanese government pension investment funds, totaling more than 4.68 billion U.S. dollars . Once Evergrande goes bankrupt, these funds will lose money. If they fail to pay out pensions, it will cause social problems.
Evergrande’s follow-up development challenges modern western financial theory
Food can be eaten indiscriminately, but you can’t talk nonsense. The IMF is now endorsing the CCP and Evergrande, but if Evergrande does not repay the debt, would you dare to force the CCP to repay the debt? If the CCP still doesn’t make money, aren’t you just helping the CCP to deceive people? Now there is a rogue saying in China, “It’s the uncle who owes debts.” Evergrande is already a dead pig and is not afraid of boiling water. If Evergrande has a terrible situation, it is neither bankruptcy nor repayment. These Westerners There is really no way for the fund to use it. If that time comes, I expect that they might pretend that the Evergrande bonds in their hands are still valuable, and deceive domestic investors in the opposite direction.
The follow-up development of the Evergrande Incident will be the biggest challenge to modern Western financial theory. Look at theories and regulations such as loan mortgages, cross-border debts, international fraud convictions, etc., without considering the CCP’s rogue nature. If no one implements these regulations , It is not good for the CCP.
What’s more sad is that Western financial figures and economists are helping the CCP put on the emperor’s new costume, pretending that the CCP will abide by international regulations. Let us wait and see how this drama ends.
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