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The Eastern Window | Evergrande: A sacrificial lamb to avoid economic disaster

For a company which ran up $305 billion in debt against total assets worth $355 billion, the writing was on any of the many walls it routinely builds

September 27, 2021 / 09:10 AM IST
The Eastern Window | Evergrande: A sacrificial lamb to avoid economic disaster

Why has the Evergrande founder, Hui Ka Yan, escaped stringent legal action while several other business owners, including former Alibaba chairman Jack Ma, faced more severe scrutiny? After all, Evergrande with $305 billion in debt has exposed a major weakness in China’s economic growth model while Alibaba did little to harm the Chinese economy. After the Evergrande mess hit global markets and the top 10 investors including Jeff Bezos lost $26 billion, many financial experts described it as China’s Lehman...

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