The Long Shadow of Evergrande: A Cautionary Tale for Global Markets The news that China has moved to bring closure to the saga of troubled property giant Evergrande comes as its founder, Hui Kan Yan (also known as Xu Jiayin), was sentenced to life in prison for financial crimes.
This development signals the Chinese government's intent to finally put an end to one of the most egregious cases of corporate malfeasance in recent history.
The collapse of Evergrande has been a slow motion train wreck, unfolding over several years as its liabilities mounted and assets were stripped bare.