An even bigger housing crisis threatens China’s economy

(Image: Getty)

Tue, 19 Sep 2023

By Rebecca FengChina’s giant housing industry is lurching into a new crisis that threatens to be the country’s worst yet.Two years ago, the debt-laden developer China Evergrande Group spiralled into insolvency, bursting the country’s real-estate bubble and setting off a chain of developer defaults and business losses. The industry’s troubles have dragged down China’s economy.Now, China’s largest privately run property developer, Country Garden, is struggling to survive. Unlike Ev...

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