World's Largest Asset Class Is Collapsing -- Furious Investors Protest Outside China's Insolvent Shadow Banking Giant After It Misses Payments, Warns "Liquidity Has Suddenly Dried Up"
10 months ago
545
World's Largest Asset Class Is Collapsing
China
Zhongrong
Real Estate China
George Gammon
Liquidity Crunch
Liquidity Tightening
QT
Bleeding Everyone Dry
Things are getting very ugly for both the so-called "China's Blackstone", and China in general.
Just days after we reported that the "secretive" shadow-banking giant, Zhongrong, also called "China's Blackstone" as it manages (or rather managed) 1 trillion in AUM, had missed payments on "multiple shadow banking (i.e. high-yield investment) products", stoking fresh worries about contagion amid China's deflationary pressures and, of course, a tottering real estate sector, which as a reminder is the largest asset class on earth...
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