• Prospective investors walk around the Royal Scenic Peninsula, an Evergrande luxury development in Guangzhou in 2009. The real estate developer Evergrande once binged on debt; now the music has stopped, investors are panicking and experts are warning of an imminent failure. | ALEX HOFFORD/THE NEW YORK TIMES
    Prospective investors walk around the Royal Scenic Peninsula, an Evergrande luxury development in Guangzhou in 2009. The real estate developer Evergrande once binged on debt; now the music has stopped, investors are panicking and experts are warning of an imminent failure. | ALEX HOFFORD/THE NEW YORK TIMES
  • SHARE

Every once in a while a company grows so big and messy that governments fear what would happen to the broader economy if it were to fail. In China, Evergrande, a sprawling real estate developer, is that company.

Evergrande has the distinction of being the world’s most debt-saddled property developer and has been on life support for months. A steady drumbeat of bad news in the recent weeks has accelerated what many experts warn is inevitable: failure.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW

PHOTO GALLERY (CLICK TO ENLARGE)

,