![Residential areas in Nanjing, China.](https://www.worldpoliticsreview.com/wp-content/uploads/2024/02/china-property-crisis-evergrande-02062024-e1707225070548.jpg?w=519&h=259&crop=1)
A Hong Kong court ruled last week that the largest indebted property developer in the world, Evergrande, would be liquidated. The ruling opened up a slew of larger questions about the future of the Chinese economy, especially the relationships between the central government, local governments, the private sector and households.