South Korea’s acting president, Han Duck-soo, moved on Sunday to reassure the country’s allies and calm financial markets a day after President Yoon Suk Yeol was impeached and suspended from his duties over a martial law attempt.
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“Interest rates would rise. The financial markets are worried about France. They don’t know which way our country is headed. … France’s attractiveness would decline. In recent years, since 2015, France has become more attractive to foreign investors. … But since the dissolution of parliament, investors have been asking themselves: should they invest elsewhere? Should they wait and see if France remains hospitable? Some projects have already been cancelled, others have been scaled back or postponed. The fall of the Barnier government would only fuel this spiral of mistrust.”
Evergrande, the struggling Chinese property giant, along with its founder Hui Ka Yan, faces allegations of inflating revenues by $78 billion (£61.6 billion) in the two years preceding the company’s default on its debt.