China’s Evergrande Files for Bankruptcy – World Economy in Dangerous Shape

This article originally appeared on JoeHoft.com and was republished with permission.

China real estate behemoth, Evergrande, is filing for bankruptcy.

The China economy is in trouble, like the rest of the world’s economies.  The Evergrande failure has been in the works for some time now.  Once one of the most prestigious firms in China, it’s now facing bankruptcy.

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The Boston Globe reported earlier today:

Evergrande, the heavily indebted Chinese property giant, filed for bankruptcy protection Thursday in New York,

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