China’s Property Crisis Enters a Dangerous New Phase

China’s Property Crisis Enters a Dangerous New Phase
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. Faced with a collapse in Vanke’s bond prices and the company’s warning of a... ...

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