{"id":36985,"date":"2021-09-18T07:00:08","date_gmt":"2021-09-17T22:00:08","guid":{"rendered":"https:\/\/www.theguardian.com\/world\/2021\/sep\/17\/chinas-lehman-brothers-moment-evergrande-crisis-rattles-economy"},"modified":"2021-09-18T07:00:08","modified_gmt":"2021-09-17T22:00:08","slug":"chinas-lehman-brothers-moment-evergrande-crisis-rattles-economy","status":"publish","type":"post","link":"https:\/\/eastasianews.net\/wp\/?p=36985","title":{"rendered":"\u2018China\u2019s Lehman Brothers moment\u2019: Evergrande crisis rattles economy"},"content":{"rendered":"<p>President Xi Jinping faces serious test of his financial reforms as struggles of property giant send ripples through real-estate sector<\/p>\n<p>The crisis engulfing Evergrande, China\u2019s second-biggest property company, is the greatest test yet of President Xi Jinping\u2019s effort to reform the debt-ridden behemoths of the Chinese economy. It could also be the most significant test that China\u2019s financial system has faced in many years.<\/p>\n<p>As angry protesters occupied the headquarters of the troubled property developer in recent weeks, some analysts have described the Evergrande crisis as \u201cChina\u2019s Lehman Brothers moment\u201d. Only this time it\u2019s a credit-fuelled housebuilder that suddenly can\u2019t pay its $300bn debts, rather than a blue-chip investment bank that many assumed was too big to fail but was instead thrown to the wolves 13 years ago.<\/p>\n<p> <a href=\"https:\/\/www.theguardian.com\/world\/2021\/sep\/17\/chinas-lehman-brothers-moment-evergrande-crisis-rattles-economy\">Continue reading&#8230;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Xi Jinping faces serious test of his financial reforms as struggles of property giant send ripples through real-estate sectorThe crisis engulfing Evergrande, China\u2019s second-biggest property company, is the greatest test yet of President Xi Ji&#8230;<\/p>\n","protected":false},"author":2581,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"sns_share_botton_hide":"","vkExUnit_sns_title":"","_vk_print_noindex":"","sitemap_hide":"","_veu_custom_css":"","veu_display_promotion_alert":"","vkexunit_cta_each_option":"","footnotes":""},"categories":[291,6,50,2347,1219,600,42,49],"tags":[],"class_list":["post-36985","post","type-post","status-publish","format-standard","hentry","category-banking","category-business","category-china","category-housing-market","category-real-estate","category-stock-markets","category-world-news","category-xi-jinping"],"aioseo_notices":[],"veu_head_title_object":{"title":"","add_site_title":""},"_links":{"self":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/36985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/users\/2581"}],"replies":[{"embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=36985"}],"version-history":[{"count":1,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/36985\/revisions"}],"predecessor-version":[{"id":36986,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/36985\/revisions\/36986"}],"wp:attachment":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}