In a story by ZeroHedge on September 19th, 2021, it talks about the possible knock on effects if Evergrande were to go bankrupt. Evergrande is the second largest property development company in China and employs many thousands of workers. Many people believe that Evergrande is too large and politically important to fail, just Like the Lehman Brothers Bank back in 2008, but it still filed for bankruptcy due to financial incompetence. Many very ordinary Chinese people who have invested in Evergrande may lose all of their money, if the Chinese Communist Party does not bail out this over-stretched and troubled real estate company. Communist leader President Xi Jinping faces a serious test of his financial reforms as the property giant struggles to balance its books.
For a more in-depth look into this story, please click here: Former Lehman Trader On “China’s Lehman Moment”
Editor: Mr Cow / PR: Marialu
Edited by：【Himalaya London Club UK】