China Business & Economy

CCP Mismanagement to Blame for Evergrande Crisis, Business Experts Say

CCP Mismanagement to Blame for Evergrande Crisis, Business Experts Say
A resident wears a mask while cycling through the Evergrande City on Sept. 24, 2021 in Wuhan, Hubei Province, China. Evergrande, China's largest property developer, is facing a liquidity crisis with total debts of around $300 billion. The problems faced by the company could impact China’s economy, and the global economy at large. Getty Images
Michael Washburn
|Updated:
News Analysis

Evergrande’s spiraling debt crisis, and the global unease its woes have fomented, are largely due to mismanagement and deceptive practices on the part of Chinese Communist Party (CCP) leadership who have pursued policies without regard for the complex interplay of market forces in Asia, according to observers.

Michael Washburn
Michael Washburn
Reporter
Michael Washburn is a New York-based reporter who covers U.S. and China-related topics for The Epoch Times. He has a background in legal and financial journalism, and also writes about arts and culture. Additionally, he is the host of the weekly podcast Reading the Globe. His books include “The Uprooted and Other Stories,” “When We're Grownups,” and “Stranger, Stranger.”
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