Even so, “China’s aim is to cut back danger, it’s to not set off a disaster,” mentioned Bo Zhuang, a Singapore-based economist at Loomis, Sayles & Firm, an funding administration agency. A sequence of bulletins from Chinese language policymakers meant rankings businesses categorized Evergrande bonds as dangerous junk months in the past, not like Lehman Brothers’ bonds that have been rated as investment-grade days earlier than its collapse.
https://www.washingtonpost.com/world/asia_pacific/china-evergrande-debt-property-xi/2021/09/28/98ad816e-1f3f-11ec-a8d9-0827a2a4b915_story.html?utm_source=rss&utm_medium=referral&utm_campaign=wp_world | China?s ?demolition? of Evergrande halts property growth to curb dangerous enterprise