Evergrande: The firm that’s put markets into a panic

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Global markets wobbled this week, as the debt woes of a single Chinese property company sparked fears of a new financial crisis, writes Adam Maguire. Markets around the world trembled this week over concerns that problems in China's property market could morph into a crisis for the global economy. At the centre of the panic was Evergrande Group - a company that would have been largely unknown to Irish consumers before now, despite it being a major cog in the Chinese economy. What is Evergrande Group? Evergrande Group is a massive conglomerate that has operations in a number of areas. It’s involved in farming, renewable energy and health - and even owns amusement parks, a bottled water brand and half of the most valuable soccer club in China. However the heart of its business is property, with Evergrande in recent years ranked as the biggest real estate business in the world in terms of asset values. Its website claims the group currently owns more than 1,300 projects acros
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