Collapse of China Property Giant to Impact Australia’s Biggest Export | ABC News
- ABC News (Australia)
There are fears the collapse of one of China’s biggest property companies could spark wider turmoil in the world’s second largest economy. Subscribe: http://ab.co/1svxLVE Investors are urging China’s government to step in the save Evergrande, a giant conglomerate that’s over $400 billion in debt. If the company collapses, the reduction in construction would also reduce demand for iron ore, pushing the price of Australia’s biggest export even lower.