The debt crisis plaguing China Evergrande Group is “controllable” and unlikely to spill over, the country’s central bank said on Oct. 15 amid growing fears that its potential collapse could trigger a global domino effect.
With over $300 billion worth of liabilities, Evergrande is the world’s most indebted real estate developer. The company has missed three bond payments in three weeks, intensifying fears of a contagion effect in China’s property market.
