Evergrande: The $300 Billion House of Cards

At its zenith, Evergrande wasn't just a property developer; it was the engine of China’s urbanization—a titan that built cities from thin air and promised a golden future to millions. Its founder, Hui Ka Yan, once sat atop a throne of luxury, transforming a regional firm into a global conglomerate that owned everything from football clubs to electric vehicle dreams. But behind the glitz of soaring skyscrapers lay a foundation of unsustainable debt and a relentless, high-stakes gamble that would eventually bring the world’s second-largest economy to the edge of a precipice.

In this episode of *Peak to Dust*, we peel back the layers of the most spectacular corporate implosion in modern history. Through a deep-dive investigation drawing on over 200 verified primary sources, financial filings, and contemporaneous reports, we reconstruct the precise moment the gears jammed and the empire began its inevitable descent. This is the story of how an obsession with infinite growth built a house of cards, and what happens when the wind finally starts to blow.