Efforts to frontrun tariffs was part of it. But now, there’s more to it.
The people voted to scrap the project that was one-third finished, $4 billion over budget, mired in allegations of corruption, and built on an unstable lake-bed. But it has a life of its own.
“I do believe that in North America it is a cyclical downturn”: Cummins COO.
Burning cash is easy; It’s quite flammable and just goes up in smoke.
One of the world’s critical choke points for maritime traffic.
The hangover after the tariff-front-run boom last year.
US-China trade war, falling business confidence, slowdown in China, German exports, and new: the temporary shutdown of Hong Kong’s airport, the largest cargo hub in the world.
“Fleets are nervous. The latest manufacturing and construction numbers are concerning. The trade issue with China looms.”
And these are still the good times, with growing passenger traffic.
Rescue deal fell through at the last moment. China’s Fosun and other shareholders are toast. Creditors get to fight over the debris.