News UK
China’s housing crisis deepens as Evergrande shares slide – BBC News
Shares in the Chinese property firm Evergrande have fallen as problems in the country’s struggling housing market deepen – affecting the wider economy.
Its mainland unit Hengda Real Estate has defaulted on 4bn yuan (£449m; $547m) of debt, it revealed on Monday.
The BBC’s Analysis Editor Ros Atkins examines the background to the current crisis.
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#China #BBCNews
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The US said it has hit “dozens” of Iranian military targets in overnight attacks, in response to Iran hitting commercial ships in the Strait of Hormuz.
The military said it struck “air-defense systems, coastal radar sites, missile and drone capabilities, and small boats”, using aircraft, ships, and drones – including “one-way attack sea drones for the first time”.
“The Strait of Hormuz is a vital maritime corridor for global trade,” the US military said. “Iran does not control it”.
In response, Iran said it targeted US bases in Jordan, Bahrain, and Kuwait and also radar systems in Oman.
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President Donald Trump has said the US is reinstating a naval blockade of Iranian ports and will impose a 20% charge on all cargo shipped through the Strait of Hormuz following days of escalating strikes between the two countries.
He said this would stop “Iran’s ships or customers” from entering or leaving the key oil shipping route, but “all other countries will have fair and open use of the Strait”.
Iran’s foreign minister later said whoever provides safe passage “should be compensated for this service”, but Iran would remain the strait’s “GUARDIAN” – using Trump’s word.
Tehran and Washington clashed over the strait’s control after exchanging strikes in the region overnight and on Monday.
The US said it carried out strikes against military targets in Iran, targeting air defence systems, coastal radars, and missile and drone sites. Iran said it responded by striking US military bases in Kuwait, Jordan and Bahrain, and radars in Oman.
Reeta Chakrabari presents BBC News at Ten reporting by Jeremy Bowen.
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Wildfires of ‘exceptional scale’ have taken force in Paris, as neighbouring Spain still tackles flames across the country following its own devastating fires.
Now the UK is also experiencing wildfires in England and Wales, as its third heatwave of the year is set to intensify again this week.
Here’s what we know so far about the extent of wildfires in Europe and the UK, and how heatwaves are impacting them.
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Explosions have been heard near two Iranian port cities, Bandar Abbas and Bushehr, state media has reported.
It comes after another night of strikes between the US and Iran, with Iran’s Islamic Revolutionary Guard Corps saying it hit two UAE tankers in the Strait of Hormuz and targeted US facilities in Jordan and Bahrain.
The UAE called the attack “brazen”, adding that an Indian crew member was killed and eight others were injured.
Meanwhile, the US military says it completed strikes on targets aimed at degrading “Iran’s ability to attack commercial shipping” – Iranian state media reports three people were killed.
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The US military said it was carrying out a new wave of strikes on targets in Iran. It said the aim of the attacks was to degrade Iran’s ability to attack shipping in the strait of Hormuz. It came ass the US Navy resumed its blockade of Iran’s ports.
Iran said that control of the strait of Hormuz was required for its national security and it will exercise sovereignty over the key shipping lane, whatever the cost.
President Trump announced that he was scrapping a plan he had announced a day earlier, for placing a 20% toll or tariff on all cargos passing through the strait of Hormuz.
Clive Myrie presents BBC News at Ten reporting by Sarah Smith in Washington.
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@MiaKatherine-sj7ne
January 3, 2024 at 4:33 am
I believe a housing market crash is on the horizon due to many individuals buying homes above the asking price despite low interest rates. Now, as housing prices drop, these buyers are in risky situations without equity. Foreclosure seems probable if they can't afford their homes. Even selling wouldn't bring profits. This situation will likely affect many, especially with expected layoffs and the rapid rise in the cost of living.
@HeathenGeek
January 3, 2024 at 4:33 am
Mao Ning, speaking at the end there sounds like Baghdad Bob as the missiles were getting closer, and closer.
@tedroszerihin5903
January 3, 2024 at 4:33 am
Will this have a ripple effect in the US housing prices?
@classicphotos8916
January 3, 2024 at 4:33 am
Considering the current reality of global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not strongly reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
@chillfluencer
January 3, 2024 at 4:33 am
VW debt: 400 billion Euro.
@Diego836he4
January 3, 2024 at 4:33 am
In light of the impending recession and the fact that inflation remains above the federal reserve 2% target in this time of conflicts and war, several leading market analysts have expressed their views on how dire they believe the economy will be, next recession and how far stocks may go. I need advice on what investment to make because i want to build a portfolio for my children that will be worth at least 800,000 dollars
@alvisjanviar8253
January 3, 2024 at 4:33 am
Abundant housing in China and chinese people got no money to afford. Housing shortage in US and Americans can't afford a place to stay.. Global economy melts down as China economically fails. China and the rest of the world are economically interwoven. If the west targets to take down China, the world will be damn impacted tremendously. So be careful in screwing China.. SIC!
@mahonghao9971
January 3, 2024 at 4:33 am
In china the housing usually connected to marriage, if you cannot afford a full payment housing , then no woman will marry to you. It is ridiculous.
@hoangngochieu6171
January 3, 2024 at 4:33 am
Không nhận ra, cười sặt xụa, cười phun cơm. Kỳ cục.
@hoangngochieu6171
January 3, 2024 at 4:33 am
Rồi. Tất cười nhất là…
@hoangngochieu6171
January 3, 2024 at 4:33 am
Không thể thiếu tính giải trí! Căn thẳng quá! Không thể cười chúm chím nổi.
@user-bl5pk1hk6q
January 3, 2024 at 4:33 am
Communist China, can only sell so much cement, steal and glass to their people before they get so tired of it and stop buying into this real estate scam market. it's like buying into gold and silver when there is no real gold and silver to buy..
@user-bl5pk1hk6q
January 3, 2024 at 4:33 am
Communist China, can sell to the world "Made in China" inferior products but can't never sell their ideology of total control (dictatorship of communism.) so therefore, CCP has no choice but to lash out to those who refuse to fall in line to their authority like the independent island nation of Taiwan, the real china.
@TheDysartes
January 3, 2024 at 4:33 am
US GDP is at 2% and the media say it's a robust economy and China is at 5.3% GDP (upgraded by the IMF from 4%) and the country is about to collapse. This just highlights the bias and absolute codswallop outputted by Western Media.
@GaryGaoOfficial
January 3, 2024 at 4:33 am
😁I have a video in my channel comparing and breaking down Chinese and US real estate fundamentals and problems side by side. If anyone is interested. Feel free to check it out.😬
@rspcoach619
January 3, 2024 at 4:33 am
Communist politburo ran china is bankrupt.
@rspcoach619
January 3, 2024 at 4:33 am
Who's going buy when unemployment is almost 59%?
@mikairu2944
January 3, 2024 at 4:33 am
This everg. Supposed crash has been the go to propagando for 3 years now
@happyjonn9242
January 3, 2024 at 4:33 am
I hope that Western Oligarchs buy up half the stock in Beijing as investments and make it unaffordable for Chinese citizens to live there. That would be Karma.
@ace_sunzhe
January 3, 2024 at 4:33 am
its 2023，why the video quality looks like it is in 1993
@tommurphy727
January 3, 2024 at 4:33 am
Wouldn’t believe anything on the BBC
@nh6870
January 3, 2024 at 4:33 am
Chinas economy is well and good, The housing crisis isn’t as bad as western press likes to propagandize. As a foreigner living in China for the last 17 years, I see her progress to be steady and optimistic. Excessive housing prices are being regulated. That is good for her people and country.
@hansvetter8653
January 3, 2024 at 4:33 am
Well … China was and is the extended work bench of the west and it will stay that way. In times of rising pay grades of workers other competitive countries come into play … Singapur, India, Mexico … but in any case all IP stays in the west.
@truthtellerfreethinker7311
January 3, 2024 at 4:33 am
BZbC is fake biased news lied about Uyghurs forced labor forced sterilization concentration camps misleading misinformation disinformation BS.
@truthtellerfreethinker7311
January 3, 2024 at 4:33 am
Smearing demons China when USA thugs rob stores flash mob robberies. Drugs shooting in USA.
@linyidai9076
January 3, 2024 at 4:33 am
Hui Ka Yan is so evil that most Chinese hate him.
@Rhgeyer278
January 3, 2024 at 4:33 am
It's been a rough year with losses from failed banks and government, real estate crashes, a struggling economy, and downturns in stocks and dividends. It feels like everything has been going wrong.
What a terrible year it is…
@kaze-xo
January 3, 2024 at 4:33 am
The crisis China has is not a "housing crisis" (as how people call "housing crisis" in U.S. or Canada), it's the exact opposite of that (it's more of a "housing value crisis" instead)
@papadavie8460
January 3, 2024 at 4:33 am
At my age, I understand propagandas. Anything about China by the West is a fluke, pure propaganda
@Edna825
January 3, 2024 at 4:33 am
The statement "How the Fed destroyed the housing market" is an oversimplification of the complex factors that contributed to the housing market crisis of 2008. While the Fed's policies may have played a role, it is important to consider the wider context and multiple factors that led to the crisis.
@jdw777
January 3, 2024 at 4:33 am
Stop bothering China
@brokecreole
January 3, 2024 at 4:33 am
humans have a dying brain. a dying brain with dying ideology. Humans are all in a state of Hospice. Humans are stretching their arms to the gov't to get their veins injected with morphine called promises. just to stay alive. sad.
@Mveira-hp4pk
January 3, 2024 at 4:33 am
I know what happened. the british witch aristocracy has a workhouse system that is like communism designed to oppress people's thoughts and freedoms. China is a communist country that also did not want people to think freely. what happened was the rat british taught their english workhouse system to the chinese and everyone globally. that's why everyone is desperate for a house even though everyone has too much house. It's like your stuck in the workhouse having to straighten nails afraid they'll throw you out so you can't think. They don't know what to do with the mexicans though. they're camping out on the lawn of Buckingham palace laughing at the marry old king of england. Y'all in trouble, they're seizing the castle like they are in israel right now. now what are the jews going to do in response, throw them out of their house? They're shooting rockets at apartments that they're probably going to throw them out of anyway. You have gun that doesn't go bang. This is called a transient consequence. You can't think looking backwards. you can't just look up crap in the torah and be a moron yourself.