A People’s Bank of China official has said the expansion of a crisis at Evergrande on the financial system was “controllable”, in the central bank’s first official comments on the World’s most indebted developer since it missed international bond payments last month. The statement came as the Company faces accumulative evaluation from regulators ahead of a looming default this week.
While the advisors to Bond holders have had no meaningful dialogue. P.B.O C. told reporters on Friday that the Evergrande outlook was being resolved by local governments through “market and rule of law principles”, according to state media. The comments represent a significant intervention from Beijing.
Back in 2008/9 over US 170 banks went under. But the Fed authorities didn’t let “Bank of America” go down the tube. Thinking; Is this a similar situation? …