Fed warns China’s property problems could hurt global markets and the US economy – CNN

The company has sparked fears of contagion since September, upon warning that it could default on its debts of more than $300 billion.

Those worries have receded in recent weeks as Evergrande managed to find enough money to meet international debt repayments, including raising about $144 million over the last few days from selling a small stake in media company HengTen Networks Group.

The conglomerate’s ongoing fiasco is seen as a big test for Beijing.

But in recent weeks, a slew of real estate developers have disclosed their own cash flow issues, asking lenders for more time to repay them or warning of potential defaults.

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