No surprise, this comes from Michael Pettis, who is probably one of the best and most reliably unbiased sources of information and analysis on China's economy.
The impact of Evergrande has caused financial distress to spread faster and more forcefully than Beijing’s financial regulators expected, putting pressure on them to move quickly to stop the contagion. But they cannot rescue Evergrande’s creditors without also undermining their fight against bad debt....
Read Here: https://carnegieendowment.org/chinafinancialmarkets/85391
Submitted September 21, 2021 at 09:09AM by cbus20122 https://ift.tt/3hSGynK
