China's government tries to defuse economic fears after real estate developer's debt struggle
A car with a sign that reads, "Country Garden homeowners rights protections car," is parked near homeowners camping outside the Country Garden One World City project under construction on the outskirts of Beijing, Thursday, Aug. 17, 2023. China's government is trying to reassure jittery homebuyers after the major real estate developer missed a payment on its multibillion-dollar debt, reviving fears about the industry's shaky finances and their impact on the struggling Chinese economy. (AP Photo/Ng Han Guan)
BEIJING (AP) — China's government is trying to reassure jittery homebuyers after a major real estate developer missed a payment on its multibillion-dollar debt, reviving fears about the industry's shaky finances and their impact on the struggling Chinese economy.
There is no indication Country Garden's problems might spread beyond China, which seals off its financial system from global capital flows, economists say...
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