Navigating the Evergrande into the Chinese Golden Week
The Evergrande FUD is spreading, fuelled by western media looking for another Lehman moment to cover. The people selling the news have no clue to what extent the CCP plunge protection team is mandated to go to protect the real estate prices. After all real estate is 80% of household wealth, and if retail hurts, Xi's image will be tarnished. To make things more pressing, China is going into a 10 day long hibernation starting the 1st of October, the Golden Week where most services including financial markets will be closed.
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