A Debt-Ridden Property Developer Could Threaten China’s Economy

A Debt-Ridden Property Developer Could Threaten China’s Economy
An Evergrande Group stand at a real estate fair in Wuhan city, Hubei province, September 13, 2013 (Imaginechina photo by Sun Xinming via AP).

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Approximately 100 disgruntled investors gathered at the headquarters of the troubled property developer China Evergrande Group in the southern city of Shenzhen on Monday to demand repayment of loans and other financial products. 

Reuters’ David Kirton captured the chaotic scenes that erupted as Evergrande employees tried to placate the protesters. In one photo, Du Liang, identified by staff as the general manager and legal representative of the company’s wealth management division, sat exhausted on the floor. Next to him lay a middle-aged woman who had apparently collapsed as the crowd aired their grievances. “A company as big as yours, how much money has been swindled from ordinary people?” another woman said to Du. 

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