Shares in the Chinese property firm Evergrande have fallen as problems in the country’s struggling housing market deepen – affecting the wider economy. Its mainland unit Hengda Real Estate has defaulted on 4bn yuan (£449m; $547m) of debt, it revealed on Monday. The BBC’s Analysis Editor Ros Atkins examines the background to the current crisis. Here is a direct video link.
Canada has been connected to China’s economy via capital flows as well as our commodity exports. As housing bubbles deflate globally, Canada is extra-vulnerable.
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