Heavy rain triggers landslides, destroys buildings; Chinese luxury developer Fantasia defaults
A landslide destroys nearly 200 homes in Northwest China, and the situation may be even worse than official reports describe. Northeast China endures similar inclement weather, as the area gets drenched by heavy rain. Another Chinese real estate developer has failed to pay millions of dollars in debt. The company’s financials have triggered fear about the health of the sector. As intermittent power shortages wreak havoc, China loosens its unofficial ban on Australian coal. At the same time, the country is looking to buy even more coal elsewhere—and commits to its first-ever purchase from a small Asian nation. Concerns rise over a new U.S.–China trade plan. After months of planning, some say it doesn’t outline enough specifics.
A landslide destroys nearly 200 homes in Northwest China, and the situation may be even worse than official reports describe. Northeast China endures similar inclement weather, as the area gets drenched by heavy rain. Another Chinese real estate developer has failed to pay millions of dollars in debt. The company’s financials have triggered fear about the health of the sector. As intermittent power shortages wreak havoc, China loosens its unofficial ban on Australian coal. At the same time, the country is looking to buy even more coal elsewhere—and commits to its first-ever purchase from a small Asian nation. Concerns rise over a new U.S.–China trade plan. After months of planning, some say it doesn’t outline enough specifics.
