EconomyDavid Stilwell: China’s Economic Struggles and the Future of Its Property Crisis Draw Attention

After Evergrande founder Hui Ka Yan was sentenced to life in prison, former U.S. Assistant Secretary of State David Stilwell said China’s local governments have long relied on land seizures, construction and property sales for revenue. With the market still depressed, he questioned whether Country Garden could be next and where local governments will get income.