China will turn the taps on again. My bet is they will rescue...

China will turn the taps on again. My bet is they will rescue Evergrande (they've just injected $14billion last week) but they will further stimulate the economy to growth. President Xi is going up for re-election next year, any sign of weakness will be disastrous to his long term ambition of President for life. There are still some ~700million Chinese living in rural areas striving to be in the middle-class, steel isn't going away anytime soon as the backbone to an industrialising economy. India, likewise but even more in rural/poverty. Not to mention all the other parts of the world with such demand and large populations to feed the growth engine.

Sell-side investment banks like UBS don't have crystal balls, they have good insights but there are so many factors at play that these things are hard to forecast. UBS had a low double digit price target on Afterpay (something like $20?) and never changed it as it ran up to ~$150...