Evergrande, China's biggest real-estate developer, is being liquidated. It has assets worth about $245 billion, but owes about $300 billion.

A Hong Kong court ordered the liquidation of China Evergrande, the world’s most indebted property developer.

Evergrande has assets of about $245 billion, but owes about $300 billion.

Its demise is a “controlled collapse,” but still raises systemic risk and will hurt investors, says an analyst.

  • Nahodyashka@lemmy.worldEnglish
    4·
    9 months ago

    I have a feeling that “too big to fail” will continue to be the mantra in the west for bailing these institutions out.

    • Wanderer@lemm.eeEnglish
      1·
      9 months ago

      They got given loans that they had to pay back with interest.

      But I don’t see how the west are going to fail. What’s happening in China is different to the west