What is China Evergrande crisis? Why are world markets jittery over Chinese group’s likely default?

World stock markets are jittery over the likely impact of the Evergrande crisis brewing in China. Evergrande Group, the Asian nation’s second largest real estate player is expected to default on Evergrande bond domestic coupons due on Sept 21, 2021 that could trigger a disastrous ripple effect across global markets that are on the path to a fragile recovery from the COVID-19 catastrophe