Evergrande as a ticking debt bomb for the Chinese economy

For decades, China's Evergrande Group has been a symbol of the fast-growing Asian economy. The growing income in the country has become an engine of the real estate sector. And he, in turn, turned Evergrande into a real giant, and its founder Su Diain into a billionaire. But as the Chinese government began tightening housing lending rules, as property demand began to weaken, industry leaders began to feel severe pressure to cover their rising debts. And the most obvious example of this is Evergrande. The company has a huge business in China, having completed more than 1,000 projects in the…