Beijing Is Preparing For Evergrande's Downfall
Evergrande, the Chinese property developer, has yet to confirm whether it would make interest payments on its US-dollar bond, a critical milestone that investors have been watching.
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The second-largest global economy, China, currently faces a deflating property bubble, local governments struggling with debt payments, and a banking system exposed to these issues.
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China's most indebted property developer could fail to pay interests on its debt. The company might then default on its $ 305B in liabilities, sending shock waves through the Chinese real estate market.