China’s real estate crisis could potentially worsen as Evergrande faces bankruptcy
New York CNN — Evergrande’s recent bankruptcy filing in the US serves as a cautionary tale about China’s growth-at-all-costs model, which fueled its remarkable economic expansion over the past three decades. For years, Evergrande, formerly one of China’s most successful real estate developers, amassed significant debt as the country’s economy boomed. The demand for housing …