Ever vigilant against realtors' grand dreams

By now, all my readers would have heard of the collapse of the giant Chinese real-estate company 'Evergrande'. If you go through the details of the Evergrande affair, you will realise that from pandemics to real-estate scams, the scale of everything that happens in China is flabbergasting. Evergrande has 1,300 real-estate projects in 280 cities in China. There are 16 lakh apartments for which it has taken whole or part payments from customers but which it seems unable to deliver. To fund its business, it also operates 'wealth-management products', in which people have $6 billion tied up (could be more, this is what the company itself has admitted to, so far). The sheer variety of sources from which this company has borrowed is breath-taking.