It’s never a good sign when a company struggles to sell much of anything—even its best assets.
That is now roughly the position troubled Chinese property developer Evergrande finds itself in. Barring a last-minute change of heart from the government, a formal default now seems unavoidable. Unraveling the complex web of financial links between different Evergrande assets could also further delay the company’s reorganization and add to headwinds for China’s property market.
