Another corporation involved in China’s real estate bubble is about to pop.
Yesterday the Bangkok Post reported: Embattled Chinese property giant Evergrande on Wednesday suffered a second credit rating downgrade in two days, raising fears the world’s most indebted company will default and sending its shares tumbling below their listing price 12 years ago. The Hong Kong-listed firm has run up a mountain of liabilities totalling more than $300 billion after years of borrowing to fund rapid growth and a string of real estate acquisitions as well as other assets including a Chinese football team. TRENDING: BREAKING – […]
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