China's housing nightmare: The story behind Evergrande's near-bankruptcy • FRANCE 24 English

Описание: #Chinese real estate giant #Evergrande, saddled with around $300 billion in debt, has been struggling to meet interest payments on its loans. If it collapses, some of its partner firms could be driven to bankruptcy, prospective homebuyers could lose deposits and some banks would lend less money, which would lead to a credit crunch in the world's second-biggest economy. Property developers in #China have in fact created an oversupply: there is enough empty property in the country to house more than 90 million people. FRANCE 24's team reports.

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