China’s deepening property crisis threatens trouble | Mint Primer | Mint

China's housing crisis is deepening as Country Garden, a major homebuilder, missed coupon payments, causing panic among households. This highlights fears of a supply chain collapse, where material suppliers and construction firms face delayed payments, and concerns about the crisis spreading to state-backed firms. Homebuyers who paid upfront contribute a significant portion of the company's liabilities, risking protests. Despite the crisis, the government has not directly intervened in the property market so far.