Default. The word most feared by the markets returns to circulate in big finance and to involve, as twelve years ago, the upper echelons of politics. But this time the US Treasury and Wall Street bankers are not in the sights. At the center of the scene is the Ministry of Construction and Urban Development of the People’s Republic of China. Around the table, together with the People’s Bank of China, the most important banks of the Dragon, called to the bedside of Evergrande, in the past perhaps the most important real estate company on the planet, today undoubtedly the most indebted: 305 billion dollars, mostly in bonds that begin to expire without the cash in hand even to meet the interest.
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