Evergrande files for bankruptcy protection in US, reports debt of over over $300 billion
Zee Business Video Team | Updated: August 18, 2023 17:12 pm
China's real estate giant Evergrande Group has filed for bankruptcy protection in the United States, a move that could have far-reaching implications for the global economy. The company is one of the world's most indebted developers, with over $300 billion in liabilities. Its collapse could lead to a wave of defaults in the Chinese property market and could also have a knock-on effect on other sectors of the economy.
