As a real estate meltdown ripples through the economy, small businesses and workers are owed hundreds of billions of dollars, and new projects have dried up.
Tag: Country Garden
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What to Know About China’s Real Estate Crisis
China’s economy was long dependent on a booming real estate sector, which has recently fallen on harder times.
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China Central Bank Cuts Key Interest Rate on Bank Lending
The action by the People’s Bank of China, the central bank, the latest in a series of steps to try to spur lending, was more modest than expected.
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China Faces a Crisis in Its Real Estate Sector
Beijing wanted to cool its housing market, but created a bigger problem, as the fallout from debt-laden developers and sinking sales spreads to the broader economy.
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Country Garden: Why Its Financial Crisis Poses a Risk to China
Country Garden was China’s biggest real estate developer. Now it is staring down default, facing billions of dollars in losses and $200 billion in unpaid bills.