Editorial : Evergrande is not "too big to fail"

【明報專訊】THE DEBT CRISIS of Evergrande Group, a leading property developer on the mainland, has continued to have repercussions. First, there was the revelation that the company had not paid its commercial paper on time. Then there was word that its funds had been frozen by banks, and its projects had been put on hold. The company has warned investors twice that it might default on its debts. This has become the focus of public opinion recently, and even the White House in the US has expressed concern.