Chinese company ‘explodes’ cluster of buildings due to crisis

O video holds us in an extraordinary way, but the collapse of a cluster of buildings in China is the result of the financial crisis that hit the construction company Evergrande due to the increase in the prices of iron ore, exported from Australia to the country.

According to Chinese media, China’s second-largest construction company, which has around 1,300 projects in over 280 Chinese cities, is already in debt of over US$40 billion.

Due to lack of money to complete the work, the company decided to ‘blow up’ a complex of 14 unfinished apartment towers in Kunming, Yunnan province, which were called ‘Sunshine City II’.

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