Evergrande Update 1: Is The Contagion Spreading?

How will Evergrande's default affect other markets?

Over the past three weeks or so, Evergrande has, after missing initial deadlines, managed to meet interest payments on its debt within the 30 day grace period. As such, it has so far managed to avoid a formal default. However, as headlines over the past few days attest, the contagion, initially contained within the real estate sector, has begun to spread to other parts of the Chinese markets.

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