Big Banks Are Finally Recognizing that Evergrande Is Only the Beginning of the China Economic Crisis
Today big banks UBS and Barclays finally admitted that the Evergrande solvency issue is but a small part of the China economic crisis.
We reported earlier this month that the China economic crisis was coming.
BREAKING EXCLUSIVE: China’s Economic Crisis Has Arrived – This Will Impact the Entire World
Today big banks finally got on board. Markets Insider reports:
The ongoing crisis at the property developer Evergrande is infecting the broader Chinese economy, according to UBS and Barclays, who warned that growth will be much lower than previously expected in 2021.
The two banks said Evergrande’s looming default was squeezing the broader Chinese property sector – which is one of the main sources of growth in the economy.
