The administration of Chinese President Xi Jinping urgently needs to take drastic measures to deal with ailing real estate giant China Evergrande Group. Any further delay could harm not only the domestic economy, but the global economy.
On Dec. 4, the Hong Kong High Court held a hearing on whether to approve the legal liquidation filed by Evergrande's creditors. The court postponed its decision until Jan. 29 next year, even though the judge in charge said at the October hearing that it was the last time a decision would be put off.
