This could happen a lot sooner than we think.
Evergrande empire literally about to crumble
“This is the first phase of the financial meltdown and panic will start soon,” says veteran ratings analyst Dr Marco Metzler, who believes the demise of Chinese property giant Evergrande will “trigger the biggest financial crisis since 2008”.
Dr Metzler believes were just started the phase of a crashing market and in soon people will panic and we will see crashes of more than 50%
He goes even further to say the trust in the dollar and the world financial system will fade away.
“I will comment on this in detail as soon as we see the big market crash,” he said.
Billionaire investor says historic sharemarket crash is ‘nearly certain’
Billionaire investor Jeremy Grantham says the historic collapse in stocks he predicted a year ago is now underway and even intervention by the Federal Reserve can’t prevent an eventual plunge of almost 50 per cent.
Analysts have been long been concerned that Evergrande's collapse could trigger wider risks for China's property market, hurting homeowners and the broader financial system. Real estate and related industries account for as much as 30% of the country's GDP t.co/GmfoLMJlle
— Carlos Hernandez (Carlos Eats) (@carloseats) February 1, 2022
The US distressed debt specialist Oaktree Capital has seized one of Evergrande’s most-prized assets in mainland China, a rare intrusion by a global investor in a domestic crisis caused by the biggest ever collapse of a property developer t.co/TwIVyhGX9P
— Financial Times (@FinancialTimes) January 28, 2022
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