China’s Evergrande Group — once the country’s second-largest property developer — filed for bankruptcy in New York on Thursday. - CNN
China’s major state-owned banks were seen busy selling U.S. dollars to buy yuan in both onshore and offshore spot foreign exchange markets this week, people with direct knowledge of the matter said, in an attempt to slow the yuan’s depreciation. - Reuters
If they’re selling dollars for yuan, they’re trying to prop up their own currency.
I fear people could be in for a very rude awakening very soon; let’s pray that it doesn’t happen.
Cozar, I’ll add to your comment and say absolutely these insane Uni-Party idiots are considering bailing out Evergrande; and they will accomplish their goal unless some of our politicians grow a spine very soon. We should know shortly after Congress gets back from their well-deserved vacation if our tax dollars will be put work for China!