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Duniyadari Episode 906.
In this episode, Divyanshi tells about China’s property crisis and Evergrande’s application for bankruptcy in the US.
China’s struggling property giant Evergrande files for bankruptcy protection in the US. Evergrande was once China’s top property developer. It was found in 2021 to be struggling with more than 2.6 lac crore rupees in liabilities, as government officials tightened scrutiny on the real estate sector. Its liquidity crisis soon made it a symbol of the country’s property sector woes. There are fears that problems in the country’s property sector could spread to other parts of China’s economy as growth slows. Since the sector’s debt crisis unfolded in mid-2021, companies accounting for 40% of Chinese home sales have defaulted.
How big is the report of Evergrande filing for bankruptcy protection?
And, Can it contribute to China’s falling economy?
Watch the latest episode of Duniyadari to know all about these in detail.
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Produced By: The Lallantop
Edited By: Jeet
