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.

  • 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