OBELA Analysis

Evergrande is a conglomerate that managed to become the largest real estate developer in China, driven by the accelerated population growth of China's cities. It now has a debt equivalent to 2% of China's GDP, around 2 trillion yuan or USD 309 billion.

Like the entire real estate sector, Evergrande used to take loans with land as collateral. This type of cycle stops when property prices stagnate or when the government regulates prepayment, as happened in China.

Recently it has been warned that it could be a trigger for a possible international financial collapse and has been compared to Lehman Brothers (2008). However, the situation is different: the bulk of the debt is within the Chinese financial system, which is closed to international investment, and only 26% of the total debt is owed to international investors.

The pandemic has not only affected public health but also the social, political and economic life of society, deepening existing inequalities. The effects of the COVID-19 crisis have been felt most by vulnerable groups, especially women.

Worldwide, it is estimated that the pandemic has affected approximately 80% of professional women, who are affected in their professional lives as well as in their family and personal spheres. In Latin America, more than half of women work in the sectors most affected by the economic contraction, such as domestic work, tourism, manufacturing, administrative services and the health sector.

COVID-19 has a strong influence on the labor and personal development of women in the world, and makes the inequalities experienced by women even more evident.

The Paris agreement, signed in 2015, is so far the most ambitious agreement developed among nations to combat climate change. This agreement seeks to keep the global temperature level below 2°c compared to the pre-industrial levels,

The actions taken by Latin American governments are insufficient to slow progressive climate change. The region will be one of the geographical areas most affected economically and socially by this fact.

Faced with the current climate scenario, developing countries should rethink how much they are doing to fight climate change, because, although they are not the most polluting nations in the world, they will be the most affected by it.