Isn't this the company that if went bankrupt, would spread financial contagion globally? I've seen many videos on how the middle class in China uses real estat

Isn't this the company that if went bankrupt, would spread financial contagion globally? I've seen many videos on how the middle class in China uses real estate as a form of investment, and the situation looked extremely grim. It's amazing how long they can kick the can on this situation.