The Evergrande debt crisis: China’s ‘Lehman moment’ vs Xi’s ‘Common Prosperity’

#China #Evergrande #debt #crisis Mimi Lau speaks with SCMP reporter Pearl Liu about the background to the US$300 billion debt crisis for China’s property giant Evergrande, the warning signs from 2019 and escalating events this year that lead to protests…

The Evergrande debt crisis: China’s ‘Lehman moment’ vs Xi’s ‘Common Prosperity’

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#China #Evergrande #debt #crisis
Mimi Lau speaks with SCMP reporter Pearl Liu about the background to the US$300 billion debt crisis for China’s property giant Evergrande, the warning signs from 2019 and escalating events this year that lead to protests across China. Desk editor Zhou Xin explores how Evergrande is part of China’s economic success story, Beijing’s changing “red lines” and how the capitalist excess of its “Belt Brother” CEO contrasts with Xi Jinping’s “Common Prosperity”. 

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