[revealer]

Many critics were saying that the Evergrande event in China is like the Lehman Brothers event in the US but BBC & many western media disagreed saying that China was putting in efforts to contain its Lehman moment.

https://www.bbc.com/news/business-59605130

Of late,  there were reports about the protest about depositors not being able to withdraw money from the local banks.  Some media like Forbes have changed their views.  They are now saying "China Giving Off Lehman Brothers Energy"

https://www.forbes.com/sites/williampese...0548ce2f7c

It is likely because the credits given by the Chinese banks today are far higher than what the US faced in 2008 when Lehman Brothers collapsed in 2008.  Then the US credits given by the banks were only about 60% of GDP and the other banks/Government were willing to buy over or bail out the failing banks.
 


Today, China Banks are so ladened with credit debts that buying over other failing banks might not be an available option.  Let's hope that is not the case and the Chinese Government can resolve the gigantic credit problem with a soft landing.