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Business Daily: Evergrande and China's property woes

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Evergrande and China's property woes

30/09/2021 GMT

BBC World Service - Business Daily, Evergrande and China's property woes

Evergrande's debt distress and what it tells us about China's economic model

Property giant Evergrande's debt distress and what it tells us about China's economic model

China's second largest property developer, Evergrande, is at risk of financial collapse, saddled with billions of dollars of debt. It's already defaulted on some bond repayments and has been forced to sell off assets; both Chinese and international investors are worried and Beijing is weighing the risk of spreading contagion. The BBC's Stephen McDonnell tells us about the property boom in China while Sara Hsu, a Visiting Scholar at Fudan University, tells us that the sheer size of the company is a worry. China watcher George Magnus, Research associate at Oxford University's China Centre, and at SOAS appraises the wider ramifications of the Chinese property bubble being deflated for both China and the rest of the world.
(Image: Evergrande's HQ; Image credit: Reuters)

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