▲ 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.
[–] BigDill99@lemmy.ca 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. permalink fedilink source parent