China’s Evergrande ‘Bites the Dust’
China’s Evergrande is facing a media crisis after missing several key payments in recent weeks, reports the New York Times. News outlets see the situation as paralleling the events that sparked Lehman Brother’s catastrophic default in 2008, a catalyst in the global financial meltdown. Despite the turbulence, Xi Jinping’s government may not bother to save the company from a fallout that has already sparked hysteria among investors.
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