Can The Chinese Communist Party Rein in the Realtors?

In a previous article, we highlighted the trouble Evergrande was in, not being able to make payments. But the problem is apparently deeper. There are at least 10 other real estate firms that are having significant problems paying their debts. “Property development” is no small part of the Chinese economy. When you weigh in construction and related industries, real estate accounts for 29% of the Chinese economy.
Read in WSWS

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