Chinese property giant close to collapse – DW – 09/16/2021
China Evergrande, once the country's second-largest real estate developer, is drowning in debt. Some 1.5 million people have put deposits on new homes that have yet to be built. A collapse could be catastrophic.
www.dw.com
Basically, a housing company by the name of Evergrande cannot pay back its $300 bn debt. This could have damaging effects on the economy not just in China but all over the world.
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