Chinese authorities warn local governments to prepare for potential Evergrande downfall

In what could be the strongest sign yet that debt-laden Chinese property developer Evergrande cannot hope for a government bailout, the authorities are reportedly asking local governments to prepare for its potential downfall. The troubled developer owes almost $670 million in interest for the rest of 2021, including $83.5 million due on Sept 23. Capital Economics chief Asia economist Mark Williams shared his thoughts on whether Evergrande can pull through the crisis.

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