China’s Property Crisis Enters a Dangerous New Phase; The moment China’s leaders finally blinked
It was the moment China’s leaders finally blinked.
After four years of standing by as property developers like China Evergrande Group spiraled into default,
Communist Party officials decided in late January that China Vanke Co. — one of the country’s last surviving real-estate giants —
was, for now at least, too big to fail.
The unprecedented intervention has triggered a sigh of relief in markets, but it also underscores a somber reality:
The property crisis that hobbled China’s economy and created a nearly $160 billion pile of distressed debt — the world’s largest — is getting worse.
Bloomberg 11 February 2025
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