China Evergrande’s fate shows ‘too big to fail’ may no longer apply as debt crackdown gathers steam

Source: China – South China Morning PostThis is the sixth part in a series of stories looking at China’s economic outlook in the second half of 2021 as it continues its recovery from a coronavirus-hit 2020.On July 1, under cloudy skies in China’s capital, Hui Ka Yan, the 63-year-old billionaire chairman of the nation’s second-largest property developer, walked through Tiananmen Square as part of Beijing’s celebration of the Communist Party’s centenary.The head of China Evergrande flashed his trademark smile as he posed for photos at…Read More

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