China's Real Estate Collapse Just Got A Lot Worse

Over the past few months China’s economy has deteriorated significantly as their over-leveraged real estate sector has started to collapse. Evergrande was the straw that broke the camel’s back but contagion has now spread across the entire industry. Recently, another massive Chinese real estate developer called Kaisa missed a payment on one of their wealth management products and currently sits on the brink of bankruptcy. The collapse of major developers like Evergrande and Kaisa could cause a financial and economic crisis in China similar to Lehman Brothers in 2008.

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