Evergrande Default Could Rock China’s Entire Economy
Evergrande is just the very tip of a huge iceberg. China has been a bottomless pit 20 years ago and if it had cleaned up its act then, there would have been tremors felt in every part of the globe. Now it’s a Black Hole and its suction sound will lay waste to way more than just its corner of the world. Too many have bet the farm on the China miracle. Too many politicians have sold their populations on it. Too many companies are so exposed when it blows they will all go under. When China Inc. shows its cracks, Evergrande will look quaint.