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Country Garden blocks the bonds and sinks in the Stock Exchange: it is the last of the alarm bells from Beijing. Western stock exchanges continue their march ignoring possible contagions, but the dollar is showing signs of unease
by Maximilian Cellino
(Bloomberg)
China is trying once again to disturb, as it did in the past, the drowsy gait of the stock markets in the month of August. However, this time it fails, at least for the moment, to infect the stock exchanges of the most advanced countries. The potential mine ready to explode lies in the Dragon’s real estate sector in a deep crisis: the main company in the sector, Country Garden, has suspended the negotiation of 11 onshore bonds (securities in yuan that circulate only on the national territory, unlike…