CG Hardcore Club
- Nov 9, 2008
- Reaction score
China's Evergrande has bought itself a lifeline by agreeing to make a $36 million dollar interest payment due to domestic lenders on Thursday. That was enough to calm global markets that have been rocked this week by the Chinese property giant's debt crunch. And more importantly, it buys Evergrande some time to find a way out of a full-on collapse that could wreak havoc on the Chinese economy.
Evergrande debt crisis: Chinese developer stops paying some staff, suppliers