Evergrande China on brink of collapse

Financial markets this week wobbled, as Chinese developing giant Evergrande teetered on the brink of collapse, with the firm’s woes compared by some to that of US investment bank Lehman Brothers. China’s second largest property developer has about 1,300 developments across 280 Chinese cities, and has built millions of apartments across the country. It also happens to owe its creditors $US300 billion.