‘A different kind of moral hazard’: The history and politics behind the Evergrande debt crisis

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Hello and welcome back to MarketWatch’s Extra Credit column, a weekly look at the news through the lens of debt.Have any debt-related stories or questions you want us to tackle? Email jberman@marketwatch.com. This week we’re looking at staffing shortages at the nation’s largest consumer lender, the debt ceiling and the disproportionate impact of traffic fees. But first up, we’re talking corporate debt in China.  The history and politics behind Evergrande’s fallout The saga of property developer China Evergrande Group 3333, -11.61% has dominated financial news and markets this week. Of particular interest to investors and others is whether the Chinese government will let Evergrande collapse — and to what extent the company’s downfall will take the Chinese economy along with it.  Evergrande’s large debt load — which it owes not only to traditional investors and banks, but also to homeowners who placed deposits on apartments tha
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