There's another big risk brewing in China

There are a number of reasons for global investors to be keeping close watch on China, from signs its economy is slowing to Beijing's disruptive crackdown on private business. But the list doesn't end there.

What's happening: Evergrande, one of China's largest property developers, is in dire straits. It warned this week that it could default on its substantial debts, listing $300 billion in total liabilities, if it can't raise money quickly. Should that happen, the effects would be felt across the country's banking system. The group has also suspended work on some projects as it tries to conserve cash, a move that's poised to hit China's property sector.