There are parallels here for other economies like Canada, which have enabled an unhealthy reliance on debt and realty bubbles.
“If you want to teach a lesson you have to cause pain.”
China Beige Book CEO Leland Miller joins Yahoo Finance Live to discuss why China property fears are concerning investors. Here is a direct video link.
Meanwhile, the stress in Chinese stocks is not contained in China, see Bank stocks sell-off on China Evergrande Concerns as investors worry who has exposure to its $300 billion in debt. The below table shows some of the largest mutual funds with direct Evergrande Group exposure.
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