Evergrande crisis, energy shortages: The end of China’s rapid economic growth?
Join us as we talk about China's troubled economy: The plight of the heavily indebted Chinese property company Evergrande has sparked fears of contagion that could damage economic growth in China, the world's second-biggest economy, then spill over into the supply chain and wreak havoc on global growth.
There is a general perception that the Chinese government will intervene in some way to rescue Evergrande, despite its debts of $300 billion (€256 billion) and that Evergrande, unlike Lehman Brothers in the global financial crisis in 2008, is too big to fail.
In addition to Evergande's troubles, a power crunch in some parts of China has shut down factories and left households without electricity. The shortages come as coal prices rise and in some cases because of efforts to meet official energy use targets.