Beyond Evergrande, China’s Property Market Faces a $5 Trillion Reckoning

Developers have run up huge debts. Now sales are down, Beijing is imposing borrowing curbs, buyers are balking at prices, and even demographics are looking dimmer. The government is trying to address the situation without damaging the economy.

Biden’s Soft Infrastructure Agenda May Not Boost Growth

The president has sold soft infrastructure such as in child care,...

How the Pandemic Has Changed the Way High-End Art Is Sold

Private sales at Sotheby’s and Christie’s took off, as live-auction revenues...

Facebook to Hire 10,000 Workers in EU to Build Up ‘Metaverse’

Facebook is planning to create 10,000 jobs in the European Union...

China Third-Quarter Economic Growth Slows Sharply to 4.9%

China’s economy grew 4.9% in the third quarter from a year...