As a real estate meltdown ripples through the economy, small businesses and workers are owed hundreds of billions of dollars, and new projects have dried up.
Category: Country Garden
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What to Know About China’s Real Estate Crisis
China’s economy was long dependent on a booming real estate sector, which has recently fallen on harder times.
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China Central Bank Cuts Key Interest Rate on Bank Lending
The action by the People’s Bank of China, the central bank, the latest in a series of steps to try to spur lending, was more modest than expected.
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China Faces a Crisis in Its Real Estate Sector
Beijing wanted to cool its housing market, but created a bigger problem, as the fallout from debt-laden developers and sinking sales spreads to the broader economy.
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Country Garden: Why Its Financial Crisis Poses a Risk to China
Country Garden was China’s biggest real estate developer. Now it is staring down default, facing billions of dollars in losses and $200 billion in unpaid bills.
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China’s Woes Loom Large Over the Global Markets
A downturn in the world’s second biggest economy, and growing fears about its real estate sector, are making investors jittery.
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Country Garden’s Stock Plunges After Report of Huge Losses
Financial troubles at Country Garden, the last real estate giant to avoid default, sparked panic in the markets and angry comments online.
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Country Garden Is Latest Property Giant in China to Run Into Trouble
Country Garden, China’s last big property developer to avoid default, has spooked investors after missing key debt payments, rekindling memories of China Evergrande.