Country Garden Again Delays Bond Vote

The video discusses the challenges faced by Chinese developers like Country Garden and Sino Ocean in extending bond payments. Despite previous extensions, bondholders are now pushing back, leading to a potential default crisis. The video highlights the systemic nature of the issue, with two-thirds of the top 50 developers already defaulting. It also covers upcoming bond payments and creditor votes, indicating a tense financial environment.

What is the significance of the statistic that 2/3 of the 50 biggest Chinese developers had already defaulted as of September 1st?

What upcoming events are expected for Country Garden and other developers in the near term?