Alert from china
Evergrande Snowed under its crushing debt of $300 billion, Evergrande is so huge that the fallout from any failure could hurt not just China’s economy. Contagion could spread to markets beyond China. Here’s how big Evergrande is, how bad its debt problems are, and what’s next. Chinese property giant is on the brink of collapse, and analysts warn the potential fallout could have far-reaching implications that spill outside China’s borders. “Evergrande’s collapse would be the biggest test that China’s financial system has faced in years,” says Mark Williams, chief Asia economist at Capital Economics. Here’s how bad its problems are, and what’s in store for investors. After expanding rapidly for years and snapping up assets as China’s economy boomed, Evergrande is now snowed under a crushing debt of $300 billion. The world’s most indebted property developer has been scrambling to pay its suppliers, and warned investors twice in as many weeks that it could default on its debts. O...