The Evergrande Center building in Shanghai is becoming emblematic of China's wider economic risks. Photo: Asia Times Files / AFP / Hector Retamal

On Monday, many investors couldn’t help but wonder if the liquidation order China Evergrande Group received from a Hong Kong court was a “Lehman moment.” Not quite. More likely, the milestone here is of a very different nature: a move that catalyzes Beijing to get serious about ending its property crisis once and for all. […]

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