Evergrande Delisted: China’s Property Giant Faces Collapse
Evergrande, once China’s largest property developer, has been delisted from the Hong Kong stock market after its spectacular downfall. This marks the end of the road for the company, which was built on massive debt and saw its valuation plummet by over 99% after the onset of the crisis. The company’s collapse, fueled by over $300 billion in debt and regulatory changes, has significantly impacted China’s economy, contributing to a property slump and decreased consumer spending. Experts predict more property firms will likely collapse, suggesting the crisis is far from over.
John Q. Hosedrinker