Deterioration in the credit profiles of the largest and most leveraged of China’s real estate companies threaten to send the world’s second largest economy into a downward spiral. That has the potential to create a vicious cycle where declining credit profiles weigh on economic growth, which could subsequently compound deterioration of the property sector. China Evergrande Group recently publicly reported losses of 812 billion yuan for 2021 and 2022, while fellow property developer Country Garden, the largest in China, is on the verge of a bond default. Following is a high-level timeline of key events since December ... (full story)