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I watched The Big Short (2015), again, last weekend. It is compulsory viewing for players in the financial markets, and a wonderful exposé of the consequences of greed, ignorance and “the madness of crowds”.

China Evergrande Group, one of the biggest real estate developers of the world, is in trouble. Is it simply a consequence of too much leverage, too much debt, in markets where borrowing has been made easy, if not emptying, by the practically universal quantitative easing policies of central banks? Or has it all been precipitated by yet another (actual or anticipated) clampdown initiative against tall poppies by the Chinese government?..

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