Chinese property giant Evergrande has a huge debt problem – here's why you should care
Chinese real estate behemoth Evergrande faced its biggest crisis in September 2021, spooking markets and prompting comparisons to the collapse of U.S. investment bank Lehman Brothers in 2008.
Since the company's founding in 1996 by Hui Ka Yan, it has since accumulated more than $300 billion in debt, making it the world's most indebted developer.
"As Evergrande teeters on the edge of default, collapse would have grave consequences for hundreds of thousands of property buyers and retail customers," said CNBC Senior Correspondent Emily Tan.
Watch the video above to learn the repercussions of Evergrande's debt troubles.