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Evergrande problems signal basic shift in China's economic model

Achieving its lofty green goals could save planet

Chinese electric vehicle maker Nio is valued at almost twice the level of Ferrari, the industry’s totemic profit generator.   © Reuters

The Evergrande crisis in China has thrown up a crop of headlines focusing on the property company's huge debts and irresponsible management. But fewer have sought to highlight the story behind the story: that Evergrande's difficulties signal a basic shift in China's economic model.

It is clear that the economic engines, such as property, that have fueled Chinese growth for at least two decades are sputtering. What is less clear is what kind of locomotives for growth can be found to take up the slack.

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