Economic Implications of Evergrande Collapse
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The Evergrande company, a massive Chinese property developer once listed as the world's most valuable real estate company, defaulted and has now been ordered to liquidate, posing both short- and long-term impacts on the Chinese economy. The real estate sector, which has been one of the most important drivers of Chinese growth for years, has started to collapse, with the Evergrande serving as only the first domino. Both the economy and the citizens of China will now suffer due to the damaged real estate industry.