News Snapshot:
Despite projections of 8% economic growth this year, China is struggling to bat away many economic challenges of its own making. The debt woes of the country’s biggest property developers — led by China Evergrande, which owes more than $300 billion (€266 billion) — are threatening to crash the property market. New home sales are down by a fifth. Beijing has also moved to rein in many of China’s technology giants, sparking a sell-off in the shares of online shopping behemoth Alibaba and video game maker Tencent, among others. On Friday, Tencent was ordered to suspend the rollout of new...
