, Columnist
Everyone Needs to Worry About Evergrande
The troubled company’s empire spreads far beyond real estate, and if the government steps in, it could slow China’s economic growth.
So many apartments, so much emptiness.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Even if you’ve only vaguely been following the markets recently, you probably know that China Evergrande Group, the world’s most indebted real estate company, has been causing a lot of people a lot of stress.
In short, Evergrande is on the hook for more than $300 billion in liabilities, and many believe the company is close to collapse. The giant is responsible for more than 1,300 building projects in more than 280 Chinese cities, but the empire extends beyond housing into electric vehicles, soccer clubs and mineral water.