The situation with China's property market is causing a lot of global economic stress. Recent studies show that it's now seen as a major credit threat worldwide. The issues with Evergrande in 2021 were somewhat expected, but what came as a shock was the trouble faced by Country Garden, which was usually seen as a stable player in the real estate scene.
A recent poll from Bank of America showed that twice as many people, now 33%, are concerned about China's real estate situation compared to the previous month. When Evergrande, a big real estate company in China, couldn't pay its debt, it wasn't really a surprise since they've been struggling for years.
But this year, another real estate giant, Country Garden, has been having problems because there are too many houses and not enough buyers, which was part of what was driving the
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First found on: China's Property Crisis: Beyond Evergrande and the Ripples in Global Economy
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