What Is China Evergrande and Why Is It In Trouble?
- Date: 21-Sep-2021
- Source: Washington Post
- Sector:Economy
- Country:Middle East
What Is China Evergrande and Why Is It In Trouble?
China Evergrande Group is quickly becoming the biggest financial worry in a country with no shortage of them. Fears of a default by the real estate developer, with $300 billion in liabilities and links to myriad banks, have roiled global markets as investors assess the potential impact on the financial system and the broader economy. Evergrande’s stock price has cratered yet Hui Ka Yan, the billionaire owner, has sought to reassure bankers that it will pull through. Investors aren’t sure how. They’re also asking whether major Chinese companies are still considered too big to fail by the central government, which prizes stability -- and what happens if they’re not.
1. What’s Evergrande?
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