China's Evergrande files for bankruptcy | CNN Business
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China’s Evergrande Group — once the country’s second-largest property developer — filed for bankruptcy in New York on Thursday.

China’s Evergrande Group — once the country’s second-largest property developer — filed for bankruptcy in New York on Thursday.

  • Buelldozer@lemmy.today
    4·
    1 year ago

    Curious to see if there is going to be a domino effect with their real estate companies.

    China Gardens, the largest real estate company, is toppling (article is from a week ago and those payments still haven’t been made) and at least one of China’s largest “Shadow Banks”, Zhongzhi Enterprise Group, is going with them.

    The dominoes aren’t going to stop; Evergrande, Country Gardens, and Zhongzhi Enterprise Group are just the first visible ones.