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Economics

How China and Evergrande Are Trying to Avoid Disaster

More than a decade after the U.S. subprime crisis sparked the Great Recession, the real estate sector triggers a new calamity.

China Evergrande Group Development in Nanjing
Photographer: Qilai Shen/Bloomberg

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More than a decade after the U.S. subprime crisis sparked the Great Recession, the threat of default at giant property developer Evergrande is raising the prospect that ghost towns of unoccupied homes could trigger a China property slump.