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The Evergrande Group, one of China’s top developers, owes too much money. Beijing has finally stepped in to stop their reckless borrowing, which could be a death knell for the company. China’s real estate boom involves millions of empty apartments owned by speculators, who can no longer be certain of rising property values. Beijing has adopted the maxim that “homes are for living in, not for speculation.” In China, apparently no company is “too big to fail.” Is China about to endure an economic meltdown? And what would this mean for the world economy? Rick Sanchez sets the scene. Then RT America’s Faran Fronczak explains China’s phenomenon of “ghost cities,” brand-new cities built at breakneck speed with no one to live in them. Then “Boom Bust” co-host Christy Ai shares her expertise. (04:11)
Alex Mihailovich brings the details of Canada’s recent snap election, the most expensive in the country’s history, where Canadian PM Justin Trudeau retained his title but his Liberal Party did not obtain a majority in Parliament. (10:22)
World leaders have convened at the 76th United Nations General Assembly to discuss a range of issues, including the still-raging COVID-19 pandemic. RT America’s Trinity Chavez reports from New York. Jeff Bezos, who has become infamous for his miniscule tax burden in the UK, met with Boris Johnson on the sidelines of the UN General Assembly and offered him $1 billion, ostensibly on behalf of the environment. Hilary Fordwich of Strelmark joins to discuss the optics of the situation. (14:58)
Plus, RT America’s Regina Hamm discusses the controversy and lawsuit surrounding the “grossly sexist” mischaracterization of the world’s first female grandmaster, Nona Gaprindashvili, in the Emmy-winning Netflix series “The Queen’s Gambit.” (22:34)
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