Kaisa crisis

     After Evergrande still faces $8.1 billion in interest and debt as much as $300 billion of debts, and the principal payments on its offshore bonds before the end of 2022. This company, Kaisa has become the latest developer to miss a payment to investors. Meanwhile, Evergrande has sold a UK-based asset, electric motor making business Protean, as it tries to raise funds to meets its obligations on Saturday. The domino effect has come effect, the company falling one by one.

    The Shenzen-based developer also facing enormous pressure on its financial debts because it has been downgraded by rating agencies and making it harder to borrow money in the near future.

    According to the Japanese economist estimated that the Chinese total combined debt to be more than 5 trillion dollars, that is almost the size of Japan's economy