Bayan
01-16-2023, 12:33 AM
Every once in a while a company grows so big and messy that governments fear what would happen to the broader economy if it were to fail. In China, Evergrande, a sprawling real estate developer, is that company.
Evergrande has the distinction of being the world’s most debt-saddled property developer and has been on life support for months. A steady drumbeat of bad news in recent weeks has accelerated what many experts warn is inevitable: failure.
But will the government let the company fail? And what would happen if it did?
Guest: Alexandra Stevenson (https://www.nytimes.com/by/alexandra-stevenson), a business correspondent based in Hong Kong covering Chinese corporate giants.
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Background reading:
The property giant’s success mirrored the country’s transformation from an agrarian economy to one that embraced capitalism. Its struggles offer a glimpse of a new financial future (https://www.nytimes.com/2021/09/28/business/china-evergrande-economy.html).
Evergrande isn’t the only Chinese real estate developer in trouble — another, Fantasia Holdings Group, recently missed a key payment (https://www.nytimes.com/2021/10/05/business/chinese-developer-missed-payment.html) to foreign bondholders, heightening the persistent fears of a coming crisis in China’s real estate sector.
For more information on today’s episode, visit nytimes.com/thedaily (http://nytimes.com/thedaily?smid=pc-thedaily). Transcripts of each episode will be made available by the next workday.
أكثر... (https://www.nytimes.com/the-daily)
Evergrande has the distinction of being the world’s most debt-saddled property developer and has been on life support for months. A steady drumbeat of bad news in recent weeks has accelerated what many experts warn is inevitable: failure.
But will the government let the company fail? And what would happen if it did?
Guest: Alexandra Stevenson (https://www.nytimes.com/by/alexandra-stevenson), a business correspondent based in Hong Kong covering Chinese corporate giants.
Love listening to New York Times podcasts? Help us test a new audio product in beta and give us your thoughts to shape what it becomes. Visit nytimes.com/audio (http://nytimes.com/audio) to join the beta.
Sign up here (https://www.nytimes.com/newsletters/signup/NTTD?smid=pc-thedaily) to get The Daily in your inbox each morning. And for an exclusive look at how the biggest stories on our show come together, subscribe to our newsletter (https://www.nytimes.com/newsletters/the-daily?module=inline).
Background reading:
The property giant’s success mirrored the country’s transformation from an agrarian economy to one that embraced capitalism. Its struggles offer a glimpse of a new financial future (https://www.nytimes.com/2021/09/28/business/china-evergrande-economy.html).
Evergrande isn’t the only Chinese real estate developer in trouble — another, Fantasia Holdings Group, recently missed a key payment (https://www.nytimes.com/2021/10/05/business/chinese-developer-missed-payment.html) to foreign bondholders, heightening the persistent fears of a coming crisis in China’s real estate sector.
For more information on today’s episode, visit nytimes.com/thedaily (http://nytimes.com/thedaily?smid=pc-thedaily). Transcripts of each episode will be made available by the next workday.
أكثر... (https://www.nytimes.com/the-daily)