qingdao For evergrande, the second largest real estate developer in China, expects next week to be a moment of truth. The troubled corporation has a mountain of debt of $300 billion. According to a report by financial news agency Bloomberg, new interest payments are due on Monday, which can no longer be paid.
Many investors fear that the real estate developer will go bankrupt. Much depends on Evergrande’s fate: Spread across the country, Evergrande operates and develops 1,300 real estate projects, and the group employs approximately 200,000 people.
But what options does Evergrande have now? And how did the company’s crisis develop like this? The following is an overview of the most important points.
How could Evergrande get into such an awkward position?
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