Australian Broker –
The impending collapse of Evergrande, the second biggest property developer in China, has spooked markets in Australia and beyond, with fears that our property sector could feel the shockwaves.
China is Australia’s biggest economic partner, and the ASX is already showing signs of distress: prices of iron ore, already in decline, have fallen yet further. There has been a 60% drop in the price of iron ore, which is one of our major exports to China.
