November 2, 2021, Video: "Breaking news of Chinese real estate giant Evergrande’s more than $300 billion USD debt has hovered over global financial markets since early this fall. Evergrande’s cash crunch has become its corporate bond investors’ nightmare. If China’s real estate bubble bursts, it may pose enormous consequences for home prices, the banking industry, vendors the personal net worth and housing prospects of Chinese citizens and for the broader global financial community. Financial contagion could significantly erode investor confidence in China. Our expert panel will discuss the history and social dynamics that have shaped China’s real estate market, the nature of the current bubble, implications for both private and public finance, and possible fallout from the Evergrande crisis –within China and beyond. What’s the fate of Evergrande going to be? Will this crisis become the Chinese version of “Lehman Brother’s”? Will a collapse in Chinese real estate allow China to revamp the real estate industry under the new campaign for “common prosperity”? Or, will the current situation be contained? What are the implications for ordinary Chinese and “the Chinese model” going forward?"
Non-HKS Author - Meg Rithmire