Evergrande Update 4: On The Cusp Of A Banking Crisis

How will Evergrande's default affect other markets?

The Evergrande contagion continues to spread, and has now begun to affect the market’s perceptions of China’s largest property developer, Country Garden.

Should the company continue to struggle to raise financing, it could mark the point at which the contagion embarks on its next phase, and spreads more widely through the rest of the Chinese economy.

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