Evergrande collapse - The Lehman crisis of China.

The collapse of embattled Chinese property developer Evergrande Group could prove to be “far worse” for investors in China than a “Lehman-type situation,” according to Jim Chanos, the veteran short seller who predicted Enron’s collapse two decades ago. Evergrande, a leading property developer in China owes US$300b to creditors. This debacle could trigger a financial crisis in China that could spill over globally.