Caught in the middle of growing tensions between the U.S. and China’s Communist regime, HSBC has decided to pull out of the U.S. market. However, just as HSBC made its decision, China Evergrande is on the verge of bankruptcy. Mainstream media has been abuzz about China’s real estate giant as it is likely to evolve into a Chinese Lehman Brothers moment. Evergrande’s default will not only cause the collapse of China’s economy, but also have a huge impact on global finance.
Will China’s Evergrande collapse lead to a financial crisis for the global market?