Opinion
Beijing faces tough choices as its real estate crisis deepens
China has the invidious choice of either ploughing more money into its property market or sitting back as mini-bubbles develop.
Karen MaleyColumnistWill the liquidation of Evergrande – the debt-laden property colossus that has become the poster child of China’s real estate crisis – be the catalyst that finally forces Beijing to step in to rescue its struggling property market?
Or will it make it even more difficult for more financially sound Chinese property developers to raise capital in international markets, particularly since it’s unlikely that foreign creditors will be able to get access to the vast bulk of Evergrande’s assets in mainland China?
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