Evergrande default: Could the property giant’s €250 billion debt spark a global financial crisis?

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By Euronews and AP  •  Updated: 22/09/2021 – 00:04

Global investors are watching nervously as one of China’s biggest property developers struggles to avoid defaulting on massive debts worth tens of billions of euros, fueling fears of possible wider shock waves for the world’s financial system.

China Evergrande Group owes over €250 billion. With interest payments of more than €110 million due this month alone, the company faces a major test.

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