Country Garden just dodged a default but China's property-debt distress continues

• Leading Chinese developer Country Garden avoided a debt-default last week with an 11th-hour coupon payment.
• But this may have provided only a temporary relief for the Asian nation's ailing property sector.
• The embattled industry faces a cocktail of headwinds that may continue to drag on China's economy.

Despite one of China's largest developers dodging a debt default with a last-gasp payment this month, the nation's ailing property sector teeters on a knife-edge.