Silent Lonesome Man

Guangzhou F.C., once known as Guangzhou Evergrande, bore the namesake of the company that financed and gave the club enormous power in the football (or American word "soccer") world. Now, it is on the verge of dissolution, as the team's owner is in a financial crisis. The Chinese Football Association began an attempt to fix the messes, but it was too late. It was a shocking blow for a country that back in the late 1990s to early 2010s, was among one of Asia's most elite football nations. One of the main reasons that helped China to get such a powerful status was the very large Super League, where Chinese clubs got their backs from powerful business people. Like a high-speed locomotive train, China's rise in economic terms is drawn largely from these conglomerates. Now, the national league is facing a tremendous crisis. Over sixteen clubs from China's top three divisions had already gone. The impact also made its way to the national team: Team Dragon, the nickn...

The world is watching the Chinese conglomerate Evergrande Group, once among one of the most powerful companies in the world and the second biggest in China after Alibaba (owned by Jack Ma). The same company, yes, is now reeling under potential defaults. It is holding an inglorious record of being the most indebted conglomerate in the world, with more than $300 billion in debts. The Chinese government, which is embarking on a major crackdown on major firms to ensure that they would get the lesson about financial regulation - which is recently being imposed by Beijing to control the money influx and borrowings - has suddenly changed the tune and throwing over $14 billion cash to save the company. The current crisis of Evergrande is threatened to turn China into a major moment of another Lehman Brothers, the American company that crashed in 2008 and sparked a widespread economic crisis. The fear is real and Fitch to Moody had decreased the credit rating of the Chinese firm with the risk r...