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.

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[–] 3 points 2 years ago

Hurts the customers, like lower-middle class people that put their life savings down to buy a home and never got one.

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