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China's real estate bubble about to burst - Evergrande
#21
Evergrande asset sales aren't working out.  They will be in default within days if CCP doesn't save them and it sounds like it doesn't end with Evergrande.  This will be interesting, and important.
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#22
Evergrande has technically defaulted on their USD bonds already. There was a grace period (probably to see if they can sell some assets) which is apparently going to end this weekend, so I guess then the default on USD bonds is official.

It'll be interesting to see how the CCP will handle this. Evergrande is gone, that is for sure, but I wonder how effective they have been in stopping the snowball effect. I think I've also seen two other (smaller) developers basically declare bankruptcy in these past couple of weeks. And I believe that one bank went under since they were a little over-exposed to Evergrande. ooops.
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