Chinese real estate behemoth Evergrande crumbles, revealing a larger real estate bubble

"Debt, whether public or private, does seem to be an Achilles heel for China, and accounting practices and reporting are murky," VOA quoted Doug Barry, a spokesperson for the US-China Business Council as saying. The Evergrande fiasco has hit the Chinese corporate world within days of the tumbling of another company -- China Huarong Asset Management.