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The Daily

1426 EpisodesProduced by The New York TimesWebsite

This is what the news should sound like. The biggest stories of our time, told by the best journalists in the world. Hosted by Michael Barbaro. Twenty minutes a day, five days a week, ready by 6 a.m.

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30:26

A Threat to China’s Economy

Every once in a while a company grows so big and messy that governments fear what would happen to the broader economy if it were to fail. In China, Evergrande, a sprawling real estate developer, is that company.

Evergrande has the distinction of being the world’s most debt-saddled property developer and has been on life support for months. A steady drumbeat of bad news in recent weeks has accelerated what many experts warn is inevitable: failure.

But will the government let the company fail? And what would happen if it did?

Guest: Alexandra Stevenson, a business correspondent based in Hong Kong covering Chinese corporate giants.

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Background reading: 

  • The property giant’s success mirrored the country’s transformation from an agrarian economy to one that embraced capitalism. Its struggles offer a glimpse of a new financial future.
  • Evergrande isn’t the only Chinese real estate developer in trouble — another, Fantasia Holdings Group, recently missed a key payment to foreign bondholders, heightening the persistent fears of a coming crisis in China’s real estate sector.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. 

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