China hasn’t bailed out its over-indebted property developers yet, to the shock of foreign investors who’d bought their dollar bonds. Could the forced deleveraging trigger a financial crisis?
Oil Bust Houston hardest-hit. San Francisco, once hottest US market, coddles up to it, followed by Los Angeles, Chicago, Washington D.C., Seattle, and Manhattan.
Thousands of workers laid off. $2.2 billion up in smoke. 2nd SoftBank unicorn to collapse this year before getting to the IPO or SPAC window, after Greensill, which it helped take down.
