William Pesek is an award-winning Tokyo-based journalist and author of "Japanization: What the World Can Learn from Japan's Lost Decades."
Opinion
China Evergrande's troubles are wrecking Xi's economic story
Property giant's financial malaise poses two dilemmas for policymakers
Banks in Hong Kong including HSBC Holdings, its unit Hang Seng Bank and Bank of East Asia have stopped approving some mortgages for properties being developed by embattled China Evergrande Group. © Reuters
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