China’s Evergrande crisis shakes international markets:

A potential collapse of China’s largest property developer Evergrande has put international markets on high alert on Monday as fear of contagion “prompted a broad sell-off and sent investors fleeing equities for safety,” Reuters explained. Last week Evergrande, which owes more than $300 billion, equivalent to 2% of China’s GDP, announced its inability to meet its debt obligations. According to Bloomberg data, the Chinese company’s debt is held by several foreign banks and investment managers, including UBS, BlackRock, Royal Bank of Canada and BNP Paribas, Financial Review reported.