Evergrande is nothing like Lehman brothers. It's a media hyped...

Evergrande is nothing like Lehman brothers. It's a media hyped panic.
Firstly Lehman's was a bank who over lent and the houses that they owned then became worthless. Evergrande is a developer in China backed by who? The Chinese government.
It will be propped up and creditors will be paid. There is still 1.4 million apartments thatneed to be sold and I'm hearing some creditors are already being paid in buildings and apartments.
The Chinese government will not let it go bad if only to save face to the western world. It will have little or no impact in Australia unless you have money in funds that have invested heavily in chinese property but I doubt there would be many apart from a few ex Chinese nationals living here.
Things are definitely slowing down a bit, but the panic is unfounded.
Just sheep following the international markets as usual.
Relax, Everything is fine for now.