Evergrande, a massive Chinese real estate developer, recently experienced a devastating financial crisis impacting its global influence.
This crisis stemmed from excessive borrowing, coupled with stricter government regulations on debt, causing significant economic distress.
The company's struggles impacted countless families who invested their savings in Evergrande properties, creating financial uncertainty.
China's shift in economic priorities towards technology also played a role, reducing the importance of the real estate sector and causing ripple effects.
