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What Would an Evergrande Default Look Like?



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Shares of China Evergrande, the troubled real estate giant whose fate has contributed to jitters in global markets, fell again on Tuesday amid a new prediction that it would soon default.The company’s chairman, Xu Jiayin, told employees in a letter quoted in Chinese media that Evergrande would surmount its problems, which include $300 billion in debt, plunging sales of apartments and a payment due Thursday.“I firmly believe that Evergrande will walk out of its darkest moment and resume full-speed work and production,” he said in the letter, which was confirmed by a company spokesman.But a dire forecast …

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