Supposedly, a real estate company in China that has fuck huge debt and is about to go under.
Real estate is a major part of China's economy so if they fail, this means an economic crysis of unprecedented levels, likely to affect many other countries as well.
This is mostly because the Chinese of a middle class barely have anything they can invest money in, so they buy houses and land whenever they get money. That's also the reason you see so many buying abroad, it's not even their government trying to take over countries by buying them, just failed chinese economy with lots of money and nowhere to spend it.
Also supposedly, they aren't that much in debt and everything is fine, or so the Canadian Chinks tell us.
Honestly, I just find it funny that 3 Gorges Damn ain't got shit on the chink speculative market.