For subscribers
Is this China’s Lehman Brothers moment?
Evergrande, a major Chinese developer, has rocked the market by filing for bankruptcy protection. Can China’s property sector overcome this setback?
Sign up now: Get ST's newsletters delivered to your inbox
Evergrande, a major Chinese developer, has filed for bankruptcy protection in New York.
PHOTO: BLOOMBERG
Bernard Aw
There is no getting away from it. Some of China’s biggest property developers are in trouble and trying to buy time as they seek to restructure their debts.
But the problem runs deep, with demand drying up in the property market, and the bigger question is how hard the economy and financial sector will be hit, if some of these property giants collapse.
