The financial turmoil of giant Chinese property company China Evergrande Group is not the Asian analog to the collapse of Lehman Brothers, which set off the financial crisis 13 years ago this month. That’s because Beijing is likely to prevent any contagion from infecting its financial system to maintain the social and political stability that is its No. 1 priority.
While the Evergrande (ticker: 3333.Hong Kong) crisis provided a ready excuse for Monday’s stock selloff, its parlous financial condition was well-known, with $300 billion in liabilities and debt....More>>>