George Magnus on the unravelling of Evergrande

The unravelling of China's second largest property developer over recent months has led the conglomerate to rapidly divest its assets in an attempt to avoid a cash crunch. 

But with more than US$300 billion in total liabilities, the debt crisis enveloping China Evergrande Group is likely to have knock-on effects for China’s economy. 

In this episode, independent economist George Magnus explains how Evergrande’s liquidity crisis eventuated. George talks to Lois about the broader debt problems facing Chinese property developers, the government's efforts to regulate the sector, and what Evergrande’s looming collapse means for the Chinese and global economies. 

George Magnus is an independent economist, author and research associate at the China Centre, Oxford University and at the School of Oriental and African Studies, London. He was the chief economist and then senior economic adviser at UBS Investment Bank from 1995 to 2012.