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Beyond Evergrande, China’s Property Market Faces a $5 Trillion Reckoning

Beyond Evergrande, China’s Property Market Faces a $5 Trillion Reckoning

Developers have run up huge debts. Now sales are down, Beijing is imposing borrowing curbs, buyers are balking at prices, and even demographics are looking dimmer. The government is trying to address the situation without damaging the economy.