China's real estate company, Evergrande Property Services Group Ltd (OTC:EVGPF), has filed for Chapter 15 in the U.S., marking a strategic offshore debt restructuring phase. This move is seen as a calculated maneuver given Evergrande's substantial U.S. dollar obligations governed by New York laws. The company's struggles reflect deeper issues within China's economic landscape, particularly in the property sector, and could have expansive ramifications on global markets.