The Collapse
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| Reviews | www.imdb.com |
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| First episode | France |
| Date of Reg. | |
| Date of Upd. | |
| ID | 4068384 |
About The Collapse
In France, as civilisation collapses, everyone tries to survive. Food is scarce, petrol is scarce, and the most fragile are abandoned.
Alistair Darling: Gordon Brown says briefings against ex-chancellor unfair
... In the summer of 2008 - and not long before The Collapse of major banks that floored the global economy - Lord Darling warned of the worst financial crisis in decades...
Alistair Darling: Steady hand in an economic crisis
... Mr Darling, said to have a knack for mastering complex briefs in record time, was parachuted into another " trouble" job in 2002, when Stephen Byers resigned as transport secretary amid The Collapse of Railtrack...
Coastguard warns of cliff danger after Pakefield road collapse
... High tides and wind caused The Collapse at Pakefield Holiday Park in Lowestoft, Suffolk, with homes being evacuated and moved to other parts of the site...
Zhongzhi Enterprise Group: China investigates major shadow bank for 'crimes'
... The latest developments at ZEG has raised concerns of further turmoil in the world s second-largest economy, after The Collapse of property developer and more recently the China s property sector makes up a third of its economic output...
Warning to stay away after high tide and winds hit Hemsby coastline
...By Nadia GyaneBBC News, NorfolkPeople are being warned to stay away from a beach after The Collapse of a cliff-top road brought power cables down...
Uttarakhand tunnel collapse: Last-minute snag delays rescue of trapped workers
... Officials established contact with the trapped men hours after The Collapse...
Uttarakhand tunnel collapse: Rescuers to drill from top
... A nearby landslide caused heavy debris to fall on the tunnel, leading to The Collapse of a section about 200m from the entrance...
Dutch election promises new era and shake-up in politics
... After 13 years as prime minister, Mark Rutte is bowing out and the 22 November election caused by The Collapse of his government is being fought on a cluster of domestic crises - from the high cost of living and a shortage of housing, to healthcare and climate change...
Zhongzhi Enterprise Group: China investigates major shadow bank for 'crimes'
By Zarina McDonaldBBC News
Chinese officials have launched an investigation into one of the country's biggest shadow banks, which has lent billions to Real Estate firms.
Zhongzhi Enterprise Group (ZEG) has an Asset Management arm that at its peak reportedly handled More Than a trillion yuan ($139bn; £110bn).
Authorities said they are investigating " suspected illegal crimes" against The Firm , in a statement on the weekend.
This comes days after reports that ZEG had declared it was insolvent.
The struggling firm reportedly told investors in a letter last week that its liabilities - up to $64bn - had outstripped its assets, now estimated at about $38bn.
While authorities said they had taken " criminal coercive measures" against " many suspects" it's still unclear who they are, and what role they play in The Firm . The Company 's founder, Xie Zhikun, died of a Heart Attack in 2021.
ZEG is a major player in China's shadow banking industry, a term for a system of lenders, brokers and other credit intermediaries. Shadow banking, which is unregulated, is not subject to the same kinds of risk, liquidity and capital restrictions as traditional banks.
China's shadow banking industry is valued at around $3tn. It often provides a financial lifeline to the country's property sector. The once-booming industry has been hit by a severe credit crunch, with some of the biggest firms now on The Brink of financial collapse.
" For several decades China been chasing this property Bubble - and in order to create this Bubble , or to fuel growth in China, they needed capital. So they started getting a lot of money from individual investors offering very, very high returns. And it worked for quite a while because the property prices were going up and it's a win-win for everybody, " says Andrew Collier , a shadow banking expert at Orient Capital Research.
Informal lending has always existed in China's economy, but in The Aftermath of the global financial crisis in 2008, when credit was scarce.
Given China's slowing economy and The Crisis in the Real Estate sector, Mr Collier says The Troubles at ZEG may Just Be the start of a bigger problem: " This is going to spread further into other forms of shadow banks and potentially into the actual real brick-and-mortar banks. "
Embattled property developers currently owe Chinese banks money worth as much as 30% of The Banks ' assets.
" That is going to take a long time to unwind, " Mr Collier says.
The latest developments at ZEG has raised concerns of further turmoil in The World 's second-largest economy, after The Collapse of property developer and more recently the
China's property sector makes up a third of its economic output. That includes houses, rental and brokering services, as well as construction materials and industries producing goods that go into apartments.
The latest figures show that China's economy expanded By 4 . 9% in the three months between July and September. That is slower than the previous quarter, when the economy grew by 6. 3%.
Related TopicsSource of news: bbc.com