OECD chief economist, Laurence Boone, remarks
- The broader impact from Evergrande should be fairly limited with the exception of some specialist companies
If China really wants to, they could easily turn this situation around but it’s not exactly about that right now. The times are changing and Evergrande is but an example of that.
Chinese authorities could provide some relief to the market as a whole but I don’t expect them to do much to bailout Evergrande at this point. A statement is being made and it’s best the market listens because there’s going to be more testing times to follow.