Protests Erupt! Could China’s Economy Tank Over Evergrande Collapse?
China watchers have for a while been predicting a reckoning for the runaway real estate market in China, and now that reckoning may have started. Evergrande Group, one of China's largest real estate conglomerates, is facing a debt crisis that has ensnared Chinese investors, many of whom are in the middle class. And what could make the situation even worse is if the Chinese government doesn't rescue it like it has other major Chinese companies that have accumulated too much debt. If it doesn't, we might be seeing a meltdown of the Chinese economy.