EVERGRANDE Avoids Default but REMAINS ON BRINK OF COLLAPSE as Property Sales fall 97% in Key Season

Evergrande is the second largest property developer in China and has a debt burden of over $330 BILLION. If the company defaults then there is a serious risk of CONTAGION and a HOUSING CRASH. The $ coupon payment due on October 23 is now reported to have been paid so the company has narrowly avoided a DEFAULT. However the Chinese Property Market is in freefall and Evergrands’s sales for their key sales period are DOWN 97% compared with 2021. Final negotiations have been taking place over the past few weeks to SELL the PROPERTY SSERVICES BUSINESS and the EVERGRANDE HEAD OFFICE. Both of these deals have now been BLOCKED by the Chinese Authorities leaving Evergrande at serious risk of a future default. . There are also MULTIPLE OTHER CHINESE DEVELOPERS IN DEFAULT and the Chinese market is heading for disaster. This is likely to have SERIOUS GLOBAL IMPLICATIONS and result in HOUSE PRICE FALLS. In this video we look at what is happening with Evergrande, why it is in this position, what the Restruct