Last month, we witnessed the fall for Evergrande, the world's most indebted real estate developer, and the subsequent semi-bailout in stealth. While we do not know for sure if the Chinese government did step in, we have to assume so at the moment. Without the government's olive branch, Evergrande could  plunge China into pandemonium as the 80,000 retail investors who had invested in Evergrande rebelled, and the millions of Evergrande's homeowners could cause further unrest, threatening "common prosperity". Evergrande's share price has collapsed 90% since Jul 2020.

To recap, Evergrande owed USD300bn of debt which was accumulated to fund its crazy built-up of over 1.000 projects across 200 Chinese cities. It was reported that the company pre-sold 1.5m homes to Chinese citizens. Evergrande had always had issues. It just side-stepped them by launching new ventures and borrowing more money. But triggered by the pandemic which has caused disruption