Experts and analysts fear the move for bankruptcy by Evergrande, which has debts of over $300 billion, is just the beginning of the crisis. Evergrande, one of the world’s biggest real estate corporations which once grew bigger than US giant Ford Motor Company, has filed for bankruptcy. The move has triggered fresh concerns among experts and analysts about the real estate crisis which has engulfed China since 2021. Many are fearing the move for bankruptcy by Evergrande, which has debts of over $300 billion, is just the beginning of the crisis. The company defaulting on payments in December that year triggered panic in real estate market of China.

Source: dna August 19, 2023 15:07 UTC