Explained | Chinese real estate firm Evergrande crisis a ‘Lehman moment’?
The Hindu
Markets are concerned about effect of crisis on other countries
Chinese real estate conglomerate has been in the news recently over its inability to pay interest on its huge debt obligations. The company recently defaulted on interest payment and is set to miss more deadlines. Many fear that the company is insolvent, and its share price has dropped over 80% in the last one year and hit a 10-year low.
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