China – commerce running into a bubble

China’s micro-managing and communist government still oversees an astonishingly capitalist economy. Regulators have pledged to clean up the corporate sector by letting “debt bombs” like the sprawling Evergrande Group collapse. It grew lush on the epic property boom of the late 1990s, over-diversified into multiple businesses and ran into trouble. It is now a rickety threat to China’s biggest banks and even risks damaging the broader economy if it were to fail. It has the