China’s Evergrande has been staring bankruptcy in the face since 2021. More recently, media members have fingered Country Garden as yet another large China property company that could fall. Supposedly this signals “crisis” for China. Not explained is why.
How easily we forget that not too many decades ago there was realistically no failure in China. There was just misery. Businesses couldn’t go under, but precisely because they couldn’t fail they also couldn’t succeed.
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