Not Your Mother’s Ghost Town: Evergrande Board of Directors, 2021

 

In 2018, Chinese property developer Evergrande became the most profitable real estate company in the world. Three years later, however, the company found itself on the verge of defaulting on its $300 billion USD debt. In this committee, delegates will represent members of the Evergrande BoD attempting to keep the company afloat and avert the impending Chinese property sector crisis. The committee will begin in August 2021, immediately following the leak of a confidential email revealing the extent of Evergrande’s financial trouble to the public. Delegates will also have to deal with the overdevelopment of luxury housing, which sits largely empty due to a lack of demand. Additional crises include the Chinese government’s crackdown on property speculation, which has further hindered development and construction.