Power outage, manufacturing slump: Key things to know to know about China’s economy
NEW DELHI: World’s second largest economy, China, has been facing a slew of challenges ranging from power crunch to slowdown in its manufacturing sector.
The debt crunch at one of the biggest real estate firm’s in the country, Evergrande, has also spilled over to the property sector and unsettled global financial markets.
If unresolved, the company will face what could be one the country’s largest-ever restructuring.
Some experts believed it to be a ‘Lehman moment’ and said that a replay of the bankruptcy of Wall Street titan Lehman Brothers during the 2008 global financial crisis was on the cards.
