What's Going on With China Property and With Evergrand?

The three red lines programme that china introduced last year, where it was trying to encourage a lot of real estate developers to d lever their balance sheets. I guess, on the one hand, it makes some sense for china to try to shore up and d leverage its real estate sector, because, as everyone knows, it is quite heavily indebted. But on the other hand, given real estates importance in the economy, which you, just described, it seems like a risky proposition to start ring fencing it at an economically sensitive time. It's difficult to figure out why the timing, but i'm not even sure that that matters. What i would argue is that the the three red