Is China about to face its "Lehman Brothers moment"?
CBSN
One of China's biggest property developers is at risk of buckling under billions of dollars in debt, raising concerns among investors around the globe that China could face a "Lehman Brothers moment" if the firm collapses and triggers financial contagion. Here's why Evergrande Group is suddenly rattling financial markets from Hong Kong to Wall Street.
Based in the southern Chinese city of Shenzhen, Evergrande invests in, builds and manages thousands of residential properties. It is among the among the country's largest real estate firms, with total assets listed at $356 billion and reported annual sales of more than $108 billion.
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