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Just How Bad Is the Economy Getting in China?
Odd Lots
We're not Sylonists.
In part, the real estate boom has been underpinned by moral hazard. Developers believe they can take any risk and if it pays off, make massive profits. So chinese government is very keen to address that problem of moral hazard. That's why they allowed evergrand to go into default. They've also allowed another quite large set of property developers to going into default. But i don't think they're going to pursue their campaign against moral hazards so far that they tip the entire chinese economy and financial system into crisis. We're not sylonists. g d p.
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