China's Evergrande Mess

October 18, 2021

Never underestimate China’s ability to meet gargantuan challenges that would sink most middle powers. But this time Beijing is dealing with a doozy in the form of a national real estate super-bubble crisis. Its second-largest developer, China Evergrande Group, teeters on the brink of bankruptcy with loans of $300 billion, equivalent to Singapore’s natio…