Could Evergrande’s collapse tank the global economy? That’s the question being asked around the world as one of China’s largest real-estate development companies goes into freefall. Evergrande has buried itself under an unsustainable amount of debt, and it’s hard to see how it will be able to dig itself out. All eyes are on Beijing to see whether the Chinese government will step in to rescue the failing giant. If not, Evergrande’s crash could tank the global economy, much like the financial crisis of 2008.
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