Currently there is no description available for Adam Tooze.
“Unlike the disastrous chain reaction at Lehman, this is a controlled demolition, deliberately triggered by the regime. Beijing is doing what critics have been asking China to do for a while - to deflate the housing bubble. It is doing what the west did not do in 2007-2008, ie use regulatory intervention to manage a hard landing short of an outright crash. Evergrande is like Lehman in that it has speculated on real estate. It has a lot of debt spread across the entire Chinese economy and Chinese society. It is opaque. It is worrying But is Evergrande really Lehman? Closer examination suggests that the Evergrande crisis is not like Lehman at all.”
22 Sep 2021
5
5
Read More