Just days after Evergrande's bonds hit new all time lows after "China's Lehman" warned that the company with over $300 billion in debt and which many view as systematically important for China, the selloff accelerated further following news of a mini bank run as i) several key creditors demand immediate repayment and ii) as Evergrande bonds are no longer accepted as collateral. https://bit.ly/38NdXv7
The Evergrande Real Estate Group is China's second-largest property developer by sales, making it the 122nd largest group in the world by revenue, according to the 2021 Fortune Global 500 List. It sells apartments mostly to upper and middle-income dwellers. In 2018, it became the world's most valuable real estate company.
In astrology, Venus is the planet that is associated with the whole issue of values: what it is that we value, find beautiful or hold dear in life. The value of something is very often determined by its financial worth. When Venus, the planet of financial worth links up with Pluto, the planet of change and transformation, extreme reversals often take place.
Here is the chart of the Sep.7 New Moon drawn for Beijing, China. As always planets on the angles are the one to focus on. Notice Venus on the Ascendant square Pluto on the IC (4th house cusp).
The 4th house In Mundane Astrology rules “Buildings and the property market” [1] so that it is no surprise that the Evergrande Real Estate Group is in dire straits and itsbonds are no longer accepted as collateral.
[1] http://www.skyscript.co.uk/temples/h4.html
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