China Closes Its Eyes and Hopes the Evergrande Crisis Will Disappear – It Won’t – Company’s Worth Now Only 10% of Its Value from Two Years Ago

China company Evergrande is in terrible shape.  Once one of the largest companies in the world, the China real estate behemoth is now only one-tenth of its former size, and the worst is yet to come. 

We’ve reported on Evergrande for months.  The world’s largest issuer of China’s commercial paper was going under.

EXCLUSIVE: The Beginning of China’s Economic Collapse? Largest Issuer of China’s Commercial Paper, Evergrande, Is Facing Bankruptcy, Entire World Economy Likely Impacted

Although the media won’t report it, Evergrande was bringing down the entire China property sector (one-fourth of China’s GDP).

DEVELOPING: China’s Property Sector Bonds Are ‘Getting Smoked’ – Will China’s Economic Woes Impact the Rest of the World?

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