Country Garden $100 Billion Empty and Unfinished

 Forest City is Country Garden’s most valuable asset outside China. 

Should the company eventually default, the unfinished megaproject could help its creditors recover an estimated $1.5 billion, said John Han, a partner at New York-based law firm Kobre & Kim. 

WSJ 8 September 2023

https://www.wsj.com/real-estate/the-100-billion-luxury-complex-thats-sitting-empty-and-unfinished-9eee134a

China’s shadow-banking industry threatens its financial system

https://englundmacro.blogspot.com/2023/08/chinas-shadow-banking-industry.html