People S Bank Of China Says Evergrande Debt Situation Is Controllable Market Is Stable
Positioned as the nation’s second-largest property developer, Evergrande employs roughly 200,000 people and said it creates 3.8 million jobs a year. Analysts fear the company could soon crumble under its over $300 billion of debt and create an economic fallout akin to the collapse of Lehman Brothers bank in the U.S. that precipitated the Great Recession. Recently, a number of smaller, but nonetheless significant firms, have shown signs of severe financial struggle....