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What India needs to learn from the Chinese Economic Crisis? : Chinese Evergrande Crisis
China is witnessing one of the most challenging economic crisis in its history!! The real estate market which accounts for nearly 30% of its GDP has come crashing down in the past 1 year!! Property sales plummeted by 72%, 1000s of people are protesting in 86 cities, and now there is a banking crisis where banks have started freezing the accounts of the Depositors!! and in spite of all this trouble, experts say that this is the just beginning of one of the worst economic crises that is followed in China!!
The question is,
Why is China at the brink of economic crisis?
What exactly went wrong with the Real estate market in China and lastly,
What are the lessons India needs to learn from the Chinese economic Crisis?