Part 5/10:
Real estate developers, once invincible players in China's economic surge, are now burdened with catastrophic debt. The spectacular failure of Evergrande, which defaulted on over $300 billion, sent shockwaves through the housing sector and raised alarms regarding the stability of China's economic machinery. Even amidst this turmoil, the Chinese government pushes for continued construction, flowing funds into projects that contribute artificially to GDP while neglecting the societal needs.