China's Crumbling Property Market Sparks Economic Fears as Giant Developer Country Garden Falters

China's property giant Country Garden is crumbling under massive debt, missing loan payments, and warning it can't repay creditors. This signals wider issues in China's property market.

The collapse of the massive property sector is causing huge economic impacts in China, with wealth destruction and threats to the banking system.

Stimulus efforts by the government are unlikely to be enough to turn around the property market given its massive size. There are also hidden banking exposures.

The priority for the Communist Party is maintaining stability and order, but unrest could spread as homeowners and contractors are impacted.

The property market boom that drove growth for 20 years is now unwinding rapidly. Despite government efforts, the long-term outlook is grim.