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Chinese language actual property behemoth Evergrande confronted its greatest disaster in September 2021, spooking markets and prompting comparisons to the collapse of U.S. funding financial institution Lehman Brothers in 2008.
Because the firm’s founding in 1996 by Hui Ka Yan, it has since accrued greater than $300 billion in debt, making it the world’s most indebted developer.
“As Evergrande teeters on the sting of default, collapse would have grave penalties for lots of of hundreds of property consumers and retail clients,” stated CNBC Senior Correspondent Emily Tan.
Watch the video above to be taught the repercussions of Evergrande’s debt troubles.
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