"Debt Woes Deepen: Country Garden and China's Property Crisis"

Chinese developer Country Garden is facing a $205 million loan non-payment liquidation petition, adding to concerns about the country's property sector debt crisis. With $194 billion in total liabilities and $14.9 billion in debts due within 12 months, the company's financial situation is under strain. Despite Beijing's efforts to revive the property market and economy, it has not directly bailed out any private developers. Country Garden's outlook remains uncertain as it grapples with its debt problems amidst the broader challenges facing the Chinese real estate industry.