Chinas Evergrande files for bankruptcy
https://www.cnn.com/2023/08/17/business/evergrande-files-for-bankruptcy/index.htmlChina’s Evergrande Group — once the country’s second-largest property developer — filed for bankruptcy in New York on Thursday.
The beleaguered firm borrowed heavily and defaulted on its debt in 2021, sparking a massive property crisis in China’s economy, which continues to feel the effects.