Evergrande and China's Potential Debt Crisis: Explained
Evergrande and China's Potential Debt Crisis: Explained
Evergrande, and China's Potential Debt Crisis:, Explained.
Evergrande is a Chinese real estate giant with over $300 billion in debt.
According to CNET, that makes Evergrande the world's most indebted real estate company.
According to CNET, that makes Evergrande the world's most indebted real estate company.
Since China is a major global trading partner, economic problems within the country could be far-reaching.
Since China is a major global trading partner, economic problems within the country could be far-reaching.
CNET reports that if the company were to default, countries everywhere would be impacted.
CNET reports that if the company were to default, countries everywhere would be impacted.
On Sept.
14, Evergrande told its investors that it may be unable to fulfill two repayments equaling over $130 million due in the coming weeks.
Analysts don't expect the impact to be as devastating as the global financial crisis of 2008.
Analysts don't expect the impact to be as devastating as the global financial crisis of 2008.
We believe Beijing would only be compelled to step in if there is a far-reaching contagion causing multiple major developers to fail and posing systemic risks to the economy.
Evergrande failing alone would unlikely result in such a scenario, September 20 S&P Report, via CNET.
We believe Beijing would only be compelled to step in if there is a far-reaching contagion causing multiple major developers to fail and posing systemic risks to the economy.
Evergrande failing alone would unlikely result in such a scenario, September 20 S&P Report, via CNET.
Protests have reportedly broken out in front of Evergrande offices around China, including at its headquarters in Shenzen.
According to CNET, employees, suppliers and customers who have paid for unbuilt homes were among those who demonstrated.
Evergrande is not only in real estate.
The company also owns an electric vehicle company, a soccer team and a bottled water business.
Evergrande is not only in real estate.
The company also owns an electric vehicle company, a soccer team and a bottled water business