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Monday, Oct 18, 2021

Will China rescue the troubled property group Evergrande?

Fears that one of China's biggest property developers could default on its debt are rippling through global markets.
The vast Evergrande group has outstanding debts of more than $300 billion.

Building work on many of its projects has stopped, and several investors have stopped getting paid.

On Friday, the company entered a 30-day grace period to make an $83 million interest payment, after missing a deadline.

The firm's woes have been compared to the collapse of the Lehman Brothers group in the U.S. in 2008.

So, what would a possible collapse of this company mean for China and the world?
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