Evergrande: the end of China’s property boom
The rapid expansion of China’s property sector was powered by a great migration from the farms to the cities – and built on cheap credit. The FT tells the story of Evergrande, the most indebted property developer in the world, which now stands on the brink of collapse. It’s a story that changes the outlook for China’s position as the locomotive of global economic growth. But is this China’s Lehman Brothers moment?