Market Contagion Tests Xi’s Resolve on Evergrande, Property Curbs
- Concern is spreading over scale of China’s housing slowdown
- China risks tightening policy too far, Citigroup warns
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How far will President Xi Jinping go with his crackdown on China’s real estate sector?
The question has suddenly become an urgent one on trading desks around the world. After months of treating the crisis at indebted developer China Evergrande Group as largely contained, investors on Monday rushed to price in the risk that Xi will miscalculate as he tries to curb China’s property-market excesses without derailing the economy.