Country Garden Debt Crisis Hits Australian Town

NTD Newsroom
By NTD Newsroom
October 24, 2023China in Focus
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More market jitters for Beijing as ailing property developer Country Garden sparks global concerns over whether the giant is headed for default, but the impact could reach far beyond the Chinese market.

Suzy Brandstater is a long way from China.

She’s a local politician in the small Australian town of Wilton, about an hour outside Sydney and yet she’s feeling the effects of trouble at the giant Chinese property developer Country Garden, which was supposed to build a huge new residential community in Wilton.

Here’s the story of one Australian Suburb that got caught in the crossfire.

 

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