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Saturday, October 1, 2022

China’s ‘demolition’ of Evergrande halts property boom to curb risky business

Even so, “China’s goal is to reduce risk, it’s not to trigger a crisis,” said Bo Zhuang, a Singapore-based economist at Loomis, Sayles & Company, an investment management firm. A series of announcements from Chinese policymakers meant ratings agencies classified Evergrande bonds as risky junk months ago, unlike Lehman Brothers’ bonds that were rated as investment-grade days before its collapse.

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