▲ 296 ▼ What the collapse of a company owing $300 billion means for the world (www.businessinsider.com) submitted 2 years ago by Ninjazzon@infosec.pub to c/world@lemmy.world 79 comments fedilink hide all child comments A Hong Kong court ordered the liquidation of China Evergrande, the world's most indebted property developer. Evergrande has assets of about $245 billion, but owes about $300 billion. Its demise is a "controlled collapse," but still raises systemic risk and will hurt investors, says an analyst.
[–] rbesfe@lemmy.ca -1 points 2 years ago "investors" in this case include middle class Chinese citizens, I think that's worth caring about permalink fedilink source parent