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Dan David, owner & CIO at Wolfpack Research, says the default of Evergrande is additionally a default of China and also the financial system, which 'vigorously' pushed the indebted programmer to continue constructing over the last years.
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Evergrande declared in default, going to have 'Bear Stearns moment': Investment researcher
Dan David, founder & CIO at Wolfpack Research, argues the default of Evergrande is also a default of China and the banking system, which 'forcefully' pushed the indebted developer to continue building over the last decade.
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FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FBN launched in October 2007 and is one of the leading business networks on television, having topped CNBC in Business Day viewers for the second consecutive year in 2018. The network is available in nearly 80 million homes in all markets across the United States. Owned by FOX Corporation, FBN is a unit of FOX News Media and has bureaus in Chicago, Los Angeles, and Washington, D.C.
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