Evergrande has defaulted on its debt, Fitch Ratings says
Evergrande defaults, contagion in China - ripple effects in china.  Global media needs a story line to rattle the market, traders make money on the news.  The world rolls on - it's not big enough to be a major problem.  China can absorb this one.<p>Now if the entire real estate in China goes south - thats a global problem and a huge political issue.  That would signal that we might be on a warpath as the party would need to stabilize the economy with some kind of threat narrative or risk being run out of office.  This is *highly speculative* of course.