How Evergrande could turn into China’s Lehman Brothers
At the end of June, Evergrande had nearly 2 trillion Yuan (USD309 billion) of debt on its books. It is on the verge of debt restructuring or even bankruptcy, many institutions believe. A bankruptcy would amount to a financial tsunami, or as some analysts put it, “Chinas Lehman Brothers”. The American investment banks 2008 collapse triggered a global financial crisis.
China's Evergrande is probably 'too big to fail': Market strategist
The thought of a Lehman Brothers-esque collapse in China sent U.S. investors running for the exits Monday. The Dow Jones Industrial Average (^DJI) sank 614 points, while the S&P 500 (^GSPC) fell 75 points and the Nasdaq Composite (^IXIC) plunged 330 points. It was the market’s worst one day slide in months and shattered an extended stretch of calm for stocks. The S&P 500 hadn’t fallen more than 1% since mid-August. Investors were rattled by news…
EXPLAINED: The Evergrande Crisis And What It Means For Markets
Troubles at one of China's biggest real estate companies has triggered speculation whether it could be the 'Lehman Brothers moment' for the world's second biggest economy, drawing parallels with the collapse of the US bank in 2008 amid the bursting of the housing bubble that sparked a global financial crisis.
‘China’s Lehman Brothers moment’: Evergrande crisis rattles economy
President Xi Jinping faces serious test of his financial reforms as struggles of property giant send ripples through real-estate sectorThe crisis engulfing Evergrande, China’s second-biggest property company, is the greatest test yet of President Xi Jinping’s effort to reform the debt-ridden behemoths of the Chinese economy. It could also be the most significant test that China’s financial system has faced in many years.As angry protesters occup…
Crunch Time For Evergrande, But No 'Lehman Moment'
With the future of Evergrande hanging in the balance, global markets have plunged on fears that one of China's biggest developers could collapse and cause a contagion throughout the world's number two economy and beyond. Talk of a "Lehman moment" has rung loud this week as worried investors try to ascertain whether the crisis could be a replay of the bankruptcy of Wall Street titan Lehman Brothers during the 2008 global financial crisis.