Evergrande, the next Lehman Brothers? “This is the number one question
, admits the Scandinavian bank Nordea,
judging by the number of requests we receive from our customers.
“Foreign investors are clearly afraid of a risk of contagion,”
confirms Christopher Dembik, chief economist of Danish bank Saxo Bank, whose main shareholder is Chinese.
Are these fears justified?
● Can China contain the fire?
In recent days, the official Chinese press, including the
Global Times
, has been talking about the possible rescue of Evergrande by a public consortium.
The name of Poly Property, a Hong Kong group linked to the People's Army, is cited, notes Christopher Dembik.
There is also talk of the five big public banks intervening.
But the latter
"have spent few provisions and posted very good results,"
said the economist of Saxo Bank.
On the other hand, regional banks, key players in real estate, already affected by defaults from industrial companies who are victims of
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