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Michael Pettis on Evergrande et al

September 23, 2021 - 12:30 -- Admin

Note from Michael Pettis at Carnegie: Policymakers in Beijing are in a tough position on what to do about Evergrande, the Chinese property developer whose slow collapse has transfixed the markets. Evergrande is the most-indebted property developer in the world. Its on-balance-sheet liabilities amount to nearly 2 percent of China’s annual GDP, and its off-balance-sheet obligations add up to as much

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