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Evergrande crisis and impact on global economy

Evergrande crisis and impact on global economy y7b03
Evergrande Crisis Begining China, Housing Projects and Real Estate gave birth to Evergrande Group in 1996. There primary business is of real estate inspite of this they run a lot of other small businesses. Main reason behind the crisis is company’s liabilities of around 300 billion which is almost2% of China’s GDP. This condition has been reported earlier in 2012 by American short seller Andrew left which caused him a ban for 5 years from Hong kong exchange. He also cited that government was also aware of the company’s financial health hence the crisis has been long awaited. Evergrande came into limelight when the chinese government imposed more than 100 regulations on Companies raising money via money market instruments. This made many chinese firms stumble but evergrande was seen as the worst effected with raising and using debt from bondholders, wealth mnagemnet business. This led to company’s stock stooping downwards and the investors believing after the company started defaulting. Crises impact on domestic and global markets Today, Evergrande's market cap is down to $2. 95 billion, losing nearly 95 percent of its value. The share trading has been suspended. In lehman’s language china’s housing debt is almost 150 percent which has led to rise in prices and panic selling led to increased fear and loss of trust among investors. This brought fear among investors globally as China has the second largest economy which could burst a housing bubble like the one experienced in 2008. Imports of China like crude oil, iron ore and gold have already started seeing dip. For instance, the Iron industry is directly affected by Evergrande's crash as it is a major product for the real estate industry. Hence this eventually caused a stir among the global steel industry. To conclude it can be stated that if the government doesn't rescue the real estate giant then it will cause a major impact among economies worldwide in terms of banks who act as money lenders, Suppliers as well as the money market.
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Evergrande
Crisis
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Begining


China, Housing Projects and
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Real
You use this word too often, consider replacing it with
Estate
gave birth to
Possible spelling mistake found.
Evergrande
Group in 1996. There primary business is of
You use this word too often, consider replacing it with
real
You use this word too often, consider replacing it with
estate
Possible spelling mistake found.
inspite
of this they run
This phrase/word is too simple and can be replaced with:
a lot of
other
This phrase/word is too simple and can be replaced with:
small
businesses. Main reason behind the crisis is
You use this word too often, consider replacing it with
company’s
liabilities of around 300 billion which is almost2% of China’s GDP. This condition has
been reported
earlier in 2012 by American short seller Andrew
This phrase/word (depending on the context) can be potentially replaced with :
left
which caused him a ban for 5 years from
If the term is a proper noun, use initial capitals.
Hong kong
exchange. He
also
cited that
This phrase/word (depending on the context) can be potentially replaced with :
government
was
also
aware of the
You use this word too often, consider replacing it with
company’s
financial health
hence
the crisis has been long awaited.

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Evergrande
came into limelight when the
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chinese
This phrase/word (depending on the context) can be potentially replaced with :
government
imposed more than 100 regulations on
You use this word too often, consider replacing it with
Companies
raising
You use this word too often, consider replacing it with
money
via
You use this word too often, consider replacing it with
money
market instruments. This made
This phrase/word is too simple and can be replaced with:
many
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chinese
firms stumble
This phrase/word is too simple and can be replaced with:
but
Possible spelling mistake found.
evergrande
was
This phrase/word (depending on the context) can be potentially replaced with :
seen
as the worst effected with raising and using debt from bondholders, wealth
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mnagemnet
business. This led to
You use this word too often, consider replacing it with
company’s
stock stooping downwards and the investors believing after the
You use this word too often, consider replacing it with
company
This phrase/word (depending on the context) can be potentially replaced with :
started
defaulting.

Crises impact on domestic and global markets

This phrase/word (depending on the context) can be potentially replaced with :
Today
,
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Evergrande
's market cap is down to $2. 95 billion, losing
nearly
95 percent of its value. The share trading has
been suspended
. In
Possible spelling mistake found.
lehman
’s language china’s housing debt is almost 150 percent which has led to rise in prices and panic selling led to increased fear and loss of trust among investors. This brought fear among investors globally as China has the second largest economy which could burst a housing bubble like the one experienced in 2008. Imports of China like crude oil, iron ore and gold have already
This phrase/word (depending on the context) can be potentially replaced with :
started
seeing dip.
For instance
, the Iron industry is
directly
This phrase/word (depending on the context) can be potentially replaced with :
affected
by
Possible spelling mistake found.
Evergrande
's crash as it is a major product for the
You use this word too often, consider replacing it with
real
You use this word too often, consider replacing it with
estate
industry.
Did you forget a comma after a conjunctive/linking adverb?
Hence
this
eventually
caused a stir among the global steel industry.

To conclude
it can
be stated
that if the
This phrase/word (depending on the context) can be potentially replaced with :
government
doesn't rescue the
You use this word too often, consider replacing it with
real
You use this word too often, consider replacing it with
estate
giant then it will cause a major impact among economies worldwide in terms of banks who act as
You use this word too often, consider replacing it with
money
lenders, Suppliers
as well
as the
You use this word too often, consider replacing it with
money
market.
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IELTS essay Evergrande crisis and impact on global economy

Essay
  American English
6 paragraphs
334 words
6.0
Overall Band Score
Coherence and Cohesion: 5.5
  • Structure your answers in logical paragraphs
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    One main idea per paragraph
  • Include an introduction and conclusion
  • Support main points with an explanation and then an example
  • Use cohesive linking words accurately and appropriately
  • Vary your linking phrases using synonyms
Lexical Resource: 5.0
  • Try to vary your vocabulary using accurate synonyms
  • Use less common question specific words that accurately convey meaning
  • Check your work for spelling and word formation mistakes
Grammatical Range: 6.5
  • Use a variety of complex and simple sentences
  • Check your writing for errors
Task Achievement: 6.0
  • Answer all parts of the question
  • ?
    Present relevant ideas
  • Fully explain these ideas
  • Support ideas with relevant, specific examples
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