Re:Evergrande has defaulted on its debt, Fitch Ratings says
by robotbikes on Thursday December 09, 2021 @09:04AM
(#29497426)
I can only guess that it probably has something to do with low incomes of a lot of citizens and foreign investors buying land/property. It could also be something akin to very low average income for rural residents mixed with a relatively affluent urban society and a huge gap between the haves and have-nots.
Ghana prices are completely bonkers. You have to work 100+ years to own property. Despite a expected life span of ~62 years and a population density somewhere in the middle grounds.
Something went utterly wrong I'd say.