Victor Shih on Evergrande
China’s real estate giant Evergrande is in crisis. Having accumulated more than 300 billion USD in debt, Evergrande – one of the largest property developers on earth – is on the brink of collapse. On October 4, trading of Evergrande’s shares was suspended on the Hong Kong stock exchange after its shares plummeted in response to a missed interest payment. It has since resumed work on multiple infrastructure projects, but its future remains unclear. What has caused this pressure on Evergrande? What will its greater impact be, and how will the Chinese government deal with it? In this podcast, MERICS Director of Communications and Publications Claudia Wessling asks Victor Shih of UC San Diego, an expert on Chinese banking and fiscal policies.