Evergrande default, Chinese shipbuilding bankruptcies, Chipmaker Tsinghua Unigroup facing default in the billions....what the hell is happening? Can the CCP bail these outfits out? Hang Seng seems stable. Will it cause a worldwide dip? Nobody saw the collapse of the Soviets coming...but they were not big players in global economy. As Maggie Thatcher loved to say...eventually you run out of other peoples money.
The possibility of contagion is the question lately on macro topics. There's also an energy production issue.
"Coal futures rose to above $240 per metric ton, getting closer to a record of $269.5 hit on October 5th as flooding put in question China's efforts to address energy shortages. Heavy rains have forced the closures of 60 coal mines in Shanxi province, the largest coal mining hub in China. Last week, the coal prices eased to $230 after Beijing ordered coal miners to boost production in an effort to curb an ongoing energy crisis, while Russian President Vladimir Putin said Gazprom will send more gas to European countries via Ukraine."
https://tradingeconomics.com/commodity/coalPersonally, I'm glad they banned bitcoin mining. Btw, the indicators of a large financial crisis have been ringing the bell for a while now.
