Real Estate in China - The Most Important Sector

China's second largest property developer, Evergrande, is at risk of financial collapse, saddled with billions of dollars of debt. It's already defaulted on some bond repayments and has been forced to sell off assets; both Chinese and international investors are worried and Beijing is weighing the risk of spreading contagion. The BBC's Stephen McDonnell tells us about the property boom in China while Sara Hsu, a Visiting Scholar at Fudan University, tells us that the sheer size of the company is a worry. China watcher George Magnus, Research associate at Oxford University's China Centre, and at SOAS appraises the wider ramifications of the Chinese property bubble being deflated for both China and the rest of the world. (Image: Evergrande's HQ; Image credit: Reuters)