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Evergrande Debt Crisis Is Financial Stress Test No One Wanted
Evergrande’s debt crisis has forced a too-big-to-fail moment. What does it mean for China and the rest of the global economy?
27 Sep 2021, 12:01 PM IST
(Bloomberg Businessweek) -- Sunny Peninsula, a seaside development in the southern Chinese city of Guangzhou, was supposed to house 5,000 families in dozens of towers spread across an area the size of 30 soccer fields. Many of the buyers were white-collar workers benefiting from the fastest urbanization in human history.
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