China’s Evergrande: How will a ‘controlled demolition’ impact the economy?

As Chinese real estate behemoth Evergrande reportedly prepares for a government-backed mega-restructure, here is an explainer on what Beijing’s bid to limit a contagion could mean for the wider economy: What happened to Evergrande? The Chinese government sparked a crisis in the property industry when it launched a drive last year to curb excessive debt among real estate firms as well as rampant consumer speculation. Evergrande, a real estate giant with a presence in over 280 Chinese cities, was...