China’s property sector slowdown is hurting economic growth — and it’s not clear there are new growth drivers to pick up the slack, said Leland Miller, chief executive of the China Beige Book.
Beijing’s slapdown of Jack Ma was years in the making.
Facing a massive debt of $300 billion, Evergrande has missed three rounds of interest payments on its bonds.
Some of the UK’s largest energy companies have been appointed as supplier of last resort to failed firms.
The company’s woes are emblematic of a bigger real estate crunch in China.
The closures come amid an energy crisis in China that could add further strain to the global supply chain.
The company said it became aware of the issue after it was contacted by a consumer.
It comes amid surging demand for goods ahead of the holiday season and a national labor shortage.
Make informed business decisions with Economic Matter!
Keep updated on significant corporate, finance, and economic developments around the world.
©️ 2021 Economic Matter. All Rights Reserved.