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China debt crunch

Evergrande remains on brink despite averting default

Beijing seeks to steady economy amid real estate turbulence and fear of contagion

Work has halted on the Evergrande Cultural Tourism City project in Suzhou, China.   © Reuters

SHANGHAI -- China Evergrande Group staved off default with a last-minute interest payment on a dollar bond, but the tough funding environment that brought on its crisis does not look set to improve anytime soon.

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