Money Tips Daily By Charles Kelly, Former Ifa And Author Of Yes, Money Can Buy You Happiness.

The huge Chinese property company, Evergrande, is repaying investors in its wealth management business with property instead of cash this week. The world's most indebted real estate developer faces a crunch this week while investors fear a default. Major banks have reportedly already been informed they will not receive interest payments on loans that are due this week and further interest payments of $84m (£61m) on the firm's bonds are due on Thursday. The company's shares dropped by more than 10% in Hong Kong trade on Monday, but are down 90% on its 52 week high. The multi-billion dollar property business deepening debt problems have triggered fears over the impact its potential collapse could have on China's, as well as the western world’s, economies. Evergrande grew to be one of China's biggest companies by borrowing a massive $300bn (£217bn). How will it affect the world if Evergrande collapses? Thousands of Chinese investors riding the wave of a booming market have bought property from Evergrande ‘off-pl