Journal Editorial Report: The origins of the Russian conspiracy story are becoming clearer. Images: Getty Images/AP Composite: Mark KellyThe world has been watching as the Chinese real-estate giant Evergrande flails, and some have been asking whether Beijing will soon have a moment akin to 2008’s collapse of Lehman Brothers in America. Xi Jinping may manage to prevent the burst of the real estate bubble, but China’s economy isn’t heading for more-sustainable growth.
The global financial crisis that began with the collapse of Lehman Brothers in September 2008 led to a severe liquidity crunch as financial institutions lost faith in the capacity of one another and commercial firms to repay their loans. China’s financial system doesn’t work this way. Loss of faith in the commercial worthiness of other entities isn’t fatal. Instead, banks and other financial institutions unfailingly lend if instructed to do so by political masters.
opinion Gordon Chang beats you to it.
opinion China is the biggest threat to our treasured values of basic HumanRights, freedom & democracy. Lk at the events at HongKong&in Uyghur.Look at the lies China told abt COVID19.It is NOT trustworthy. Time to contain China's nefarious & aggressive intentions.B4 it's too late!
opinion Bullshit. If fixing a cheating megacorporation is 'weakness', tell me what should be done? Let it continue to expand until it bursts itself and deals 10 times the damage? 👎
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