As the angry home purchases had been waiting on as many as 1.6 million apartments. The suppliers that have sold the paint, cement and rebar along with the copper pipes are now owed more than 100 billion dollars in the payments, and the Employees of the company that had been strongly armed into the lending are now panicking that the company is not able to repay them on time.
The company ‘Evergrande Group’ of China, which has been under the tower of debt has set off the panic in the global markets, and the company has also been buckling under the pressure of more than 300 billion dollars in debt, and the chairman of Evergrande Group have told the employees that, they are going to be walking out of darkness as soon as possible.
The main question for many people has been whether the company can possibly come out of the current crisis on its own with being led by China, and the experts are also making some predictions about the ability of Evergrande for the purpose of holding on without a bailout from the government, along with the consequences that can happen because of a possible collapse.
On Tuesday, 21st September 2021, both the bonds and shares of the company fell, even though by more amounts than in the recent weeks and days, and the shares of the company has also been closed lower by 0.4 percent, and the shares of the other developers that have been facing problems has also been recovered.
