China’s looming financial crisis as Evergrande misses debt payment

China Evergrande Group, one of China’s largest real estate developers, has been plummeting toward defaulting on its debts—negatively impacting global markets. The company aggressively expanded with reckless abandon and is now the “most-indebted property developer in the world,” owing more than $300 billion. Should the default occur, it would be one of China’s largest. Evergrande […]