Got it! All podcast descriptions will now be around 150 words. Here's the updated version for the New World Development episode:

In this episode of MacroMatrix, Ethan and Tracy dissect the dramatic HK$87.5 billion refinancing lifeline that saved New World Development from the brink of default. Once a pillar of Hong Kong’s property elite, New World’s near-collapse exposes deep structural vulnerabilities in the city’s real estate-driven economy. Tracy explains how the deal came together under immense regulatory and political pressure, why the crisis was more than just a company problem, and what the fallout could mean for the city’s banking sector, housing market, and global financial standing. From developer distress and asset fire sales to geopolitical uncertainty and capital flight, this episode paints a sobering picture of Hong Kong’s future. Can the city move beyond its property addiction—or is the next default already in the pipeline? Tune in for a critical breakdown of the risks, the rescue, and the broader implications for investors and policymakers.