The property giant is effectively declaring that it has defaulted on its debt, becoming one of the biggest casualties of China’s deepening property crisis.
Category: Economic Conditions and Trends
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Yellen May Face Questions in Morocco Over U.S. Dysfunction
Treasury Secretary Janet Yellen calls on Congress to authorize more economic support for Ukraine.
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Eurozone Inflation Rate Drops to 4.3 Percent
Prices rose at the slowest rate since before the Ukraine war, as inflation in fuel and food eased.
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China Evergrande Suspends Trading as New Trouble Roils Property Market
The real estate firm halted critical work to settle its debts and investors dumped their stock amid news executives were under suspicion by the authorities.
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Las Vegas Hospitality Workers Authorize Strike at Major Resorts
Unions representing 60,000 workers across Nevada have been in talks with the resorts since April. The vote is a crucial step toward a walkout.
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Slowing, Graying and in Debt, Can China’s Industrial Heartland Be Revived?
China, facing an economic slump, wants to make its industrial northeast more productive, turning to policies that some economists say have outlived their time.
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U.S. and China Agree to New Economic Dialogue Format
The regular talks are intended to give both countries a venue to resolve differences.
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U.S. and China Agree to New Economic Dialogue Format
The regular talks are intended to give both countries a venue to resolve differences.
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Real Estate Crisis Triggers New Alarms Over China’s Shadow Banks
A financially troubled firm has stopped paying investors, risking panic and testing the Chinese government’s resolve to take on debts from its property crisis.
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Hong Kong Says It Calls the Shots, Not Beijing. Investors Are Wary.
Its close ties to Beijing are putting the city, still an international financial hub, in a bind as it lures Western investors to revive its economy.