In this episode, we go deep into the crisis at Chinese real estate giant Evergrande and examine the reasons and fall-out. The property developer's debt woes have made headlines around the world, and sparked broader fears about the state of China's real estate market, which is a key driver of growth in the world's second largest economy.
Will Chinese authorities be able to contain the Evergrande crisis? Are there likely wider ramifications for China's economy, as well as for countries, including India, which counts on China as its largest trading partner with a trading relationship predicated on continued Chinese appetite for commodities? What do the Evergrande crisis, as well as the moves to address the debt problem, tell us about Xi Jinping's broader goals for China's economy? We also discuss other significant recent regulatory moves by Chinese authorities taking aim at the private sector, from the investigations into the Alibaba group and Tencent, to the crackdown on the private education sector, to ask how Xi is remaking China's economy. Guest: Dexter Roberts, Senior Fellow at the Atlantic Council's Asia Security Initiative, author of "The Myth of Chinese Capitalism" Host: Ananth Krishnan, China correspondent, The Hindu
The Hindu Profiles, Evergrande | The 'grey rhino' of China's property boom