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EVERGRANE COLLAPSES


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Cautious time ahead?

The symbol of China’s Real Estate, Evergrande, has gone burst - it has been ordered to liquidate by the courts.

It owes $300 Bn, and to Overseas creditors it owes $25 Bn. In addition there are 1.5m customers without a home they have been waiting for in China.

Also, there are 50 other Chinese real estate companies that have defaulted or missed payments in the last 3-years according to the S&P ratings agency.

A huge fallout is likely to come in the markets when the major players plug the plug.

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