And market watchers are largely of the view that a direct bailout from the government is unlikely. Chinas Evergrandes shares pummelled on fear of debt default.
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Chang said the Chinese government needs to act quickly since Evergrande.
Evergrande china government. Chinas Evergrande Group the embattled property developer whose towering debt has set off panic in global markets is buckling under the weight. SP Global says default by China Evergrande could test governments capacity to backstop potentially substantial failures. There is concern the already slowing China economy will be affected further and that could flow into other economies.
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