Published: August 21st, 2023,
Last updated: August 21st, 2023
China’s real estate crisis continues to spread: Former market leader Evergrande has filed for creditor protection in the United States. This is an expected interim step in working through an insolvency plan dating back to March, while also being a rare admission of insolvency by the Chinese homebuilder. The company has not filed for bankruptcy in China after its collapse two years ago. Now the limits of denying reality have been reached.