By Murray Leith
CFA, Executive Vice President & Director, Investment Research
Friday, November 12, 2021
In September, shock waves reverberated through global financial markets on news that Evergrande Group, China’s second-largest real estate developer, was on the verge of defaulting on its U.S.-dollar bonds. For a brief moment, stock prices all over the world dropped as nervous investors wondered whether Evergrande’s collapse would be China’s Lehman Brothers moment, and the trigger of a major global financial disaster.