China’s fresh Evergrande mess isn’t only warning sign for investors

News Snapshot:

But Evergrande, the second-largest developer in China, is the original poster child for the nation’s property woes. Concerns about its debt load surfaced as early as 2017, but it was in the middle of 2021 that the company started missing debt payment, and the crisis hit the global headlines. The group has been a sort of permanent restructuring process since then, a task made all the more difficult by deepening pain in China’s property sector, where a combination of oversupply, huge debts carried by developers, and a loss of confidence by Chinese consumers – partly due to the pandemic, partly...