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.

  • Burn_The_Right@lemmy.worldEnglish
    13·
    9 months ago

    Goddamn. Thanks for the perspective. This is much more horrible than I thought. It sounds like vulnerable working class people are going to be hurt the worst.