Real estate accounts for about 25% of China's GDP and has been a key driver of growth. Beijing needs to strike the right balance in supporting Evergrande while at the same time not enabling a moral hazard in which the government bails out any company that defaults on its debt
Real estate accounts for about 25% of China's GDP and has been a key driver of growth. Beijing needs to strike the right balance in supporting Evergrande while at the same time not enabling a moral hazard in which the government bails out any company that defaults on its debt
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