Caixin with the thought on a lot minds, Evergrande … is on the verge of a dramatic debt restructuring or even bankruptcy…
- A bankruptcy would amount to a financial tsunami, or as some analysts put it, “China’s Lehman Brothers.”
- As of the end of June, Evergrande had nearly 2 trillion yuan ($309 billion) of debts on its books, plus an unknown amount of off-books debt.
And:
- Like many of China’s “too big to fail” conglomerates, Evergrande’s crisis has fueled speculation over whether the government will step in for a rescue.
