China property giant Evergrande files for US bankruptcy protection
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Filing for bankruptcy protection will allow the heavily-indebted Evergrande to protect its assets in the US as it works on a multi-billion dollar deal with creditors. The company defaulted on its huge debts in 2021, which sent shockwaves through global financial markets. The move comes as problems in China's property market add to concerns about the world's second largest economy.
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(Evergrande Group logo. Photo credit: Getty Images)
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