Evergrande collapse is no CCP plan. Its just greed as usual but the CCP wants to contain the debt bubble- for a while. I think there is risk of contagion because everything is so intertwined and govts always underestimate how much so. Its not going to cause the collapse of western finance- nothing ever does- but it IS the first sign of real distress in the worldwide housing bubble. As for Russia being an ally of China- no chance. They are sworn enemies. Russia will always ally with the West if it came to it. Its European and China is a MUCH bigger threat to it in all ways than Europe or USA. I still feel that extreme caution is merited in the markets over the next few weeks.
EVN Price at posting:
$3.99 Sentiment: None Disclosure: Not Held
(20min delay)