Day: January 7, 2024

Massive Chinese Wealth Management Firm Files for Bankruptcy amid Real Estate Crisis

South Carolina Sun Staff
Chinese Homes

Top wealth manager Zhongzhi Enterprise Group declared bankruptcy on Friday after failing to pay its debts due to its heavy investment in the country’s struggling real estate market.

Zhongrong International Trust, a subsidiary of the company, told investors in November 2023 that it had at least $31 billion more in liabilities than in assets, previously having around $108 billion in assets at the end of 2022, according to The Wall Street Journal. The trust held around 11% of its assets in the property sector in 2022, with numerous developers defaulting amid a real estate crisis that began following the COVID-19 pandemic.

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Commentary: Educational Collapse and the Definition of Truth

South Carolina Sun Staff
College Students

It’s no secret that America’s students are struggling. The latest Nation’s Report Cards have not been flattering, with average scores in both math and reading declining over recent years.

It’s also no secret that pandemic restrictions have only exacerbated the learning decline in the U.S. However, scores have been falling since before the pandemic, signaling that there are more systemic problems holding back young people. In fact, this educational decline comes from a deeper philosophical brokenness about the notion of truth itself.

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Commentary: A Clean Future Does Not Exist Without Nuclear Energy

RealClearWire

On the heels of the United Nations Climate Change Conference in Dubai, it’s clear that nuclear energy’s role in achieving a clean energy future cannot be overlooked or understated. 

At COP28, we heard from dozens of top minds in-person and from afar who echoed the same message: Transitioning to cleaner energy sources cannot come at the price of an unreliable power supply, and that is where nuclear energy comes in. Not only is it a reliable, proven technology, but it is also clean, producing zero carbon emissions. Already, the United States’ 94 nuclear power reactors generate around 18% of all U.S. electricity.  

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