China’s Economy: Evergrande a canary in the coal mine?
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Do the Banks Have to Start Revaluing That Collateral?
We don't know how the banks are going to be with collateral valuation. What we do know is the official data on property prices has been telling usn on a year on year basis, that prices in ter one and two cities are still positive growth. It's only the smaller cities where we've seen negative growth. And we have an alternative indicator that it was telling us we're down about 11 % year on year through may. I a more meaningful correction, which i think linds up better with what people observe on the ground. So you've definitely high lighted an area where things could start to get a lot more ugly.
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