The Chinese Communist party appears set to kill off its largest economic zombie, while gambling that it can control the fallout. Evergrande, the world’s most indebted developer, first defaulted almost two years ago, as China’s property bubble began to burst. It has since been able to stagger on from one crisis to another, while struggling to restructure its mountain of debt and sell its assets.
- Unlimited access to spectator.com.au and app
- The weekly edition on the Spectator Australia app
- Spectator podcasts and newsletters
- Full access to spectator.co.uk