The one-bedroom apartment was to be Penelope Wu’s retirement home, an escape from the bustle of Shanghai — or, at least, that’s how Evergrande, the Chinese property developer, painted it. To jump in line ahead of hundreds of other prospective homebuyers, Wu paid the sticker price of about $200,000 in full last year, before construction had even broken ground…
To read more: https://www.npr.org/2021/09/22/1039617477/evergrande-china-financial-system
SOURCE: NPR
