A huge crash: Evergrande shares have lost more than 80 percent of their value since the beginning of the year.
(Photo: Stringer / laif)
Beijing The drama surrounding the heavily indebted Chinese real estate developer Evergrande is leading to increasing nervousness on the international financial markets. The stock exchanges in Asia have been under pressure for days.
At Evergrande, an important payment deadline expires in the next week. Investors in Europe and the USA are therefore increasingly concerned that the Chinese government may let the company slide into bankruptcy in an uncontrolled manner.
The fear expressed again and again: Then China would have its own “Lehman moment”. The bankruptcy of the US bank of the same name caused a domino effect at other banks in 2008 and is considered to be one of the triggers of the global financial crisis.
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