Chinese property giant #Evergrande is on the brink of default after accumulating a staggering debt load and straying from its core business -- moving into football, bottled water and EVs...
Prompting angry investors to protest at its offices across China
And speculation about its future.
"We do ultimately expect that the government will intervene in Evergrande’s case, as it will not allow the company's defaults to spread into the banking system," EIU China Director Mattie Bekink tells me.
"The problem is if large numbers of those buyers of properties don’t receive their properties, then that's going to cause contagion into other property developers" adds GMT Research analyst Nigel Stevenson. "People are gonna lose confidence."
