China’s Property Sector Shows Signs of Falling Apart Which Would Impact the China Economy Significantly
China’s property sector shows real signs of falling apart as Evergrande and now Kaisha Group are on the brink of default.
We’ve been warning about this for months and even years. China’s property sector is a mess. Fortune Daily reports:
China’s property sector slid deeper into financial distress this week as two of the nation’s largest housing developers appeared to miss key payment deadlines for millions of dollars owed to global bondholders. Both companies—China Evergrande Group and Kaisha Group Holdings—are near the brink of default, but the latter looks like it has the better shot at a possible turnaround.
On Monday, Evergrande, China’s most indebted property developer with bills totaling more than $300 billion,
