While the arm-chair macro economists slug it out, this earlier post by Poolie raised a wry smile.
"most analysts agreed China would ensure home buyers and investors would be protected. The Chinese Central Bank also promised it would help ring-fence any local-level banking crisis.
But what about Evergrande's offshore debt tentacles?
Bloomberg's David Qu is watching developments closely and says there's little risk of an Evergrande collapse triggering a global financial crisis. "Overseas investors' exposure to Evergrande is limited," Qu says.
Investors that are exposed, though, are expected to receive a significant so-called "haircut" on their investments."
Let's not forget that China is (despite some window dressing) a command economy. In the remote event there is a default it won't derail the current (14th) Five-Year-Plan. Even Mao's disastrous "Great Leap Forward" was eventually sorted. Ideologically you can repudiate or accept the CCP's control of China and its economy. Up To You....like it or not if Evergrande collapses China won't.