News Snapshot:
Despite forecasts of 8% economic growth this year, China is struggling to overcome many homemade economic challenges. The debt crisis facing the country’s largest real estate developers – led by China Evergrande, which owes more than $ 300 billion – threatens to crash the real estate market. New home sales have decreased by a fifth. Beijing has also kept many of China’s tech giants in check, sparking a sell-off in shares in online shopping giant Alibaba and video game maker Tencent, among others. On Friday, Tencent was ordered to suspend new app launches as part of further restrictions on its...
