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Rating agencies consider Evergrande bankrupt

Perhaps that one, clearly defined “Evergrande moment” won’t happen after all. Instead, a “salami-slicing bankruptcy” is playing out before our eyes. Every week, the struggling real estate company misses one payment deadline but occasionally serves another – albeit usually late. In China, there are no punishments for delaying bankruptcy (China.Table reported). This gives Evergrande more opportunities to play for time than any German company would have.

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