News Snapshot:
Financial institutions believe that the Chinese real estate colossus Evergrande could collapse at any time, with a debt of $300 billion, wreaking havoc not only on the Chinese economy but the impact would be on a global scale. The collapse of the real estate giant would have a “domino effect” far beyond China, as noted by the Financial Times : “Evergrande counts big international companies among its investors, including Allianz, Ashmore and BlackRock. A default is likely to have spillover effects on global markets, where many investors have historically anticipated Chinese government support at times of distress.” Meanwhile, experts assume...
