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Unless you follow China’s economy, you probably had never heard about Evergrande until sometime this past week. (And no, it’s not the ship that got stuck in Egypt’s Suez Canal — that was the Ever Given.) Evergrande is a real estate developer in China, and it also has its own soccer team and bottled-water business. Most importantly, after years of heavy borrowing, the company last week said it may default on its debt.
With over $300 billion in liabilities, Evergrande is the most indebted real estate company in the world. For comparison, Russia’s state debt in 2020…
Source CNET Tech
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