China’s housing nightmare: The story behind Evergrande’s near-bankruptcy • FRANCE 24 English

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FRANCE 24 English published this video item, entitled “China’s housing nightmare: The story behind Evergrande’s near-bankruptcy • FRANCE 24 English” – below is their description.

Chinese real estate giant Evergrande, saddled with around $300 billion in debt, has been struggling to meet interest payments on its loans. If it collapses, some of its partner firms could be driven to bankruptcy, prospective homebuyers could lose deposits and some banks would lend less money, which would lead to a credit crunch in the world’s second-biggest economy. Property developers in China have in fact created an oversupply: there is enough empty property in the country to house more than 90 million people. FRANCE 24’s team reports.

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FRANCE 24 English YouTube Channel

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About This Source - FRANCE 24 English

The video item below is a piece of English language content from France 24. France 24 is a French state-owned international news television network based in Paris.

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