Evergrande’s debt default is now controlled implosion being managed by the state: The $300 billion dollar
question - Evergrande had 800 projects across 200 cities. Things have moved quickly last week as a
debt management committee was formed with a strong element of state control. It appears 95% of
the Evergrande’s $300 billion debt is local. The Chinese Government injected over $200 billion. This will be
the biggest debt restructuring in China. The global view is that the world’s biggest property boom is over.