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China's Real Estate Debt Crisis and its Global Economic Impact

As the world continues to grapple with the lingering effects of the COVID-19 pandemic, a new storm seems to be brewing on the horizon: China's looming real estate debt crisis. Recent reports indicate that several major Chinese real estate companies are defaulting on their debts, and a staggering CNY 9.6 trillion ($1.5 trillion) in debt held by 289 Chinese property developers will mature over the next year. The majority of this debt is held by state-owned enterprises (SOEs), raising concerns about the Chinese government's ability to prevent a broader economic crisis.

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