Evergrande files for US bankruptcy protection as economic fears mount in China

Has filed for bankruptcy protection in the United States due to concerns about China's growing real estate crisis

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And its effect on the faltering economy of the country deepens.

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China unexpectedly slashed several key interest rates this week in an effort to support flagging activity

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And it is expected that he will reduce the key lending rates on Monday.

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However, analysts say these actions are too little, too late

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More drastic steps are needed to arrest the decline of the economy.

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Evergrande, formerly China's best-selling developer, to face liquidity issues in mid-2021

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Sabres' longtime Canadian broadcaster Rick Jeanneret dies at 81

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