The Chinese flag flutters in front of the Evergrande Center in Shanghai on Wednesday. (Reuters photo)The crisis at property giant China Evergrande Group poses a US$305 billion (10 trillion baht) conundrum for President Xi Jinping: how to impose financial discipline without fuelling social unrest. But clamping down on property prices is difficult given the fiscal dependence on the sector. That triggered a rise in property prices and the growth of developers like Evergrande, which thrived in third- and fourth-tier cities. UBS estimated there are 10 developers with potentially risky positions accounting for combined contract sales of 1.86 trillion yuan (9.6 trillion baht), nearly three times Evergrande's total.

Source: Bangkok Post September 24, 2021 22:30 UTC