Quaint

“The company felt deeply remorseful for the unsatisfactory performance,” it said in a filing to the stock exchange.

Meanwhile in China, a CNN newsletter Sep 1, 2023

The company in question is a large real estate developer suffering in a struggling market sector. The losses it reported came to appx $ 7 billion.

It is a devastating situation for the world’s second largest economy to face.

Chinese developers have been living in interesting times (as the local curse or proverb goes) for some long while.

My riff is a look at something other than the financial crisis China faces.

I am interested in the way in which the development giant is addressing its losses. Here in the West, we are unaccustomed to such a quaint apology in our financial statements.