China s largest real estate developer Country Garden is struggling to stay afloat. A possible bankruptcy could spell more trouble for real estate prices and the wider economy.
China s financially
beleaguered property developer Country Garden promised
five-star living to the masses in less popular, smaller cities
but focusing on those areas has come back to haunt it. . -Today at 04:39 am- MarketScreener
China's financially beleaguered property developer Country Garden promised "five-star living" to the masses in less popular, smaller cities but focusing on those areas has come back to haunt it. China's largest developer by sales value before this year, Country Garden's debt crisis has raised fears that its contagion will spread through the already sputtering economy, the world's second-largest. In 2022, Country Garden made 62% of its sales in smaller, less well-known areas that include so-called tier-three and tier-four cities such as the northern city of Dezhou and Maoming in the south.