KURE - Liquidation of property giant Evergrande may spell more trouble for China's economy
2024-01-29 04:46:08 ET
The world's second-largest economy is in the spotlight again, with the property market standing at the heart of its troubles. Construction accounts for as much as a quarter of China's gross domestic product, but real estate reverberations are shaking up confidence and many are afraid about knock-on effects for other parts of the economy. Things have also never quite recovered after years of strict zero-COVID controls and a fresh crisis could compound a deflationary spiral ....
Liquidation of property giant Evergrande may spell more trouble for China's economy