China, to put it simply, is a wild card in 2024. The troubles of Zhongzhi Enterprise Group highlight the ongoing crisis in the Chinese economy. With Zhongzhi filing for bankruptcy due to liquidity issues and an inability to repay debts, echoes of the Evergrande and Country Garden crises resurface, indicating a systemic problem within China’s real estate sector. Real estate has traditionally been a cornerstone of the Chinese economy, contributing to roughly one-third of its GDP. However, the sector has been experiencing a decline, characterized by a reduction in commercial projects, an increasing number of vacant properties, and a…
