Country Garden, one of China's biggest real estate companies, is on the verge of default after losing billions of dollars and racking up $200 billion in unpaid bills. The company has pledged to "spare no effort," but experts fear that if Country Garden collapses, it could spread the damage through the economy and thwart any possible recovery for the real estate industry.
source https://timesofindia.indiatimes.com/business/international-business/is-chinas-country-garden-the-next-evergrande/articleshow/102752107.cms
source https://timesofindia.indiatimes.com/business/international-business/is-chinas-country-garden-the-next-evergrande/articleshow/102752107.cms