Could China's Evergrande Spark the Next Global Financial Crisis?

Real estate in China has been one of the main drivers of personal wealth and economic growth over the last few decades. This has driven much higher leverage as developers take advantage of the boom. But some developers have taken it too far with the implicit assumption of a bailout should they need it. However, in the case of Evergrande, it is unclear how their developing failure will be handled by the CCP.

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SOURCES (sorry, couldn't include them all)
https://www.nytimes.com/2021/09/10/business/evergrande-debt-crisis.html
https://finance.yahoo.com/news/china-nightmare-evergrande-scenario-uncontrolled-160000957.html
https://www.epsilontheory.com/ever-grande/
https://www.goldmoney.com/research/goldmoney-insights/eurozone-finances-have-deteriorated

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