China has told banks that Evergrande will not pay interest due on 20 September

Author: Justin Low | Category: News

The latest on the Evergrande situation in China

This has turned into a real calamity and if anything else, the contagion risks are growing bigger by the day. Things are moving quite quickly and fears of any default will heighten risks towards smaller banks and also the property market in general.

Keep an eye on the developments here as they have broader implications for China's financial sector and in turn, risk sentiment globally as a whole.
It now boils down to a question of whether local authorities are bold enough to stick with making Evergrande an example of its latest shift in mentality or if they are going to bail them out and prevent a chain reaction of unwanted events.

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