Month: December 2021

For the Chinese economy, the hit from the Evergrande failure will shake the system badly. As evidenced by the government stepping in to shore up the company’s day-to-day operations in China.

Peter Cohan, a lecturer at Babson College and author of “Goliath Strikes Back,” told GOBankingRates that Evergrande’s default will have no significant effect on the U.S. economy since it has only $20 billion in U.S. dollar bonds outstanding. Nevertheless, we think this is a moment to knock on wood.

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The size of the bond market is estimated to be at $119 trillion worldwide and $46 trillion for the U.S. market — the Evergrande bonds are 0.04% of the U.S. total,” Cohan said. “Investors in those bonds will suffer losses. The risk of Evergrande’s default has been high for a long time. Those who invested in the bonds should be well-prepared for what is happening now. Even if those investors end up losing everything, the systemic impact will be tiny.” See the source article here.

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