Evergrande's epic restructuring puts onus on Xi to limit fallout

Hui Ka Yan, chairman of China Evergrande Group, speaks during a news conference in Hong Kong on Tuesday, March 26, 2019. Foto: Bloomberg photo by Paul Yeung Apartment blocks under construction in the Nanchuan area of Xining, Qinghai province, China, on Sept. 28, 2021. Foto: Bloomberg photo by Qilai Shen

The question has loomed over China Evergrande Group for months: Is the world's most indebted developer too big to fail?

Investors finally have their answer. With a flurry of announcements that sent Evergrande bonds tumbling to record lows this week, the company and Beijing have made it clear that billionaire Hui Ka Yan's property giant is headed for one of China's largest-ever debt restructurings...

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