China's economy threatened by a property giant's debt problems

Every once in a while a company grows so big and messy that governments fear what would happen to the broader economy if it were to fail. In China, Evergrande, a sprawling real estate developer, is that company.   Evergrande has the distinction of being the world’s most debt-saddled property developer and has been on life support for months.

A steady drumbeat of bad news in recent weeks has accelerated what many experts warn is inevitable: failure.   The ratings agency Fitch said this week that default “appears probable.”.

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