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Yesterday the Chinese government came out and declared the situation with the developers contained. This sent some shockwaves through the global system, a situation that was not resolved.
In this video I discuss how we are seeing a situation similar to Ben Bernake more than a decade ago when he said the subprime crisis was contained. It was not.
The deal with Evergrande along with the other developers is a big deal and will likely have global ramifications.
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