The massive Chinese real estate company, Evergrande, recently faced a significant financial crisis impacting its global standing.
This crisis involved substantial debt, leading to the company's shares being removed from the Hong Kong stock exchange and impacting the Chinese economy.
Evergrande's downfall resulted from aggressive expansion and borrowing, exacerbated by new government regulations controlling real estate developers' debt.
The ripple effect includes decreased consumer spending and a blow to China's economic growth, as the real estate industry was a major contributor.
