On the approach to Malaysia's $100-billion island megaproject backed by Chinese investment, a collapsed bridge forces drivers to detour before they reach an artificial city emerging from palm oil trees where condos, roads and shops lay empty. Aimed at middle-class Chinese buyers, Forest City has weathered scant sales, Chinese currency controls, a pandemic shutdown and public anger at China's growing influence in Malaysia. But its future is in doubt again because of the financial woes of Chinese property giant Country Garden. The project developer rose from a farmer's idea to Beijing's largest private real estate firm, but is now saddled with $196 billion of debt. It posted a record loss for the first half of 2023 this week but won creditor approval to extend a key bond repayment deadline, narrowly avoiding a potential default that imperilled thousands of developments in and outside the world's second-largest economy. Another deadline looms next week over an unpaid … [Read more...] about Malaysia’s Forest City teeters over China property giant woes