Evergrande and China's property woes
Evergrande's debt distress and what it tells us about China's economic model
Business Daily · BBC World Service
Audio is streamed directly from the publisher (open.live.bbc.co.uk) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
China's second largest property developer, Evergrande, is at risk of financial collapse, saddled with billions of dollars of debt. It's already defaulted on some bond repayments and has been forced to sell off assets; both Chinese and international investors are worried and Beijing is weighing the risk of spreading contagion. The BBC's Stephen McDonnell tells us about the property boom in China while Sara Hsu, a Visiting Scholar at Fudan University, tells us that the sheer size of the company is a worry. China watcher George Magnus, Research associate at Oxford University's China Centre, and at SOAS appraises the wider ramifications of the Chinese property bubble being deflated for both China and the rest of the world. (Image: Evergrande's HQ; Image credit: Reuters)