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France 24
France 24
World

China's housing nightmare: The story behind Evergrande's near-bankruptcy

ACCESS ASIA © FRANCE 24

Chinese real estate giant Evergrande, saddled with around $300 billion in debt, has been struggling to meet interest payments on its loans. If it collapses, some of its partner firms could be driven to bankruptcy, prospective homebuyers could lose deposits and some banks would lend less money, which would lead to a credit crunch in the world's second-biggest economy. Property developers in China have in fact created an oversupply: there is enough empty property in the country to house more than 90 million people. FRANCE 24's team reports.

Meanwhile, after more than a year of massive protests, during which several hundred people died, Indian Prime Minister Narendra Modi has agreed to repeal three controversial laws affecting the country's agricultural industry. The reversal comes ahead of key state elections, in which Modi's ruling party could see its grip on power slip.

Finally, Indonesia has the most active volcanoes in the world. More than 197 million Indonesians live within 100 kilometres of one, and nine million within just 10 kilometres. But some of these volcanoes are also tourist destinations – we take a closer look.

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