A comment I saw on pol about the supposed default:

Here is a list with names you will hear very often the next days:

1. Country Garden
2. Poly Real Estate Group
3. Evergrande
4. Vanke
5. Sunac China Holdings
6. Longfor Properties
7. Seazen Holdings
8. China Resources Land
9. China Overseas Land & Investment Ltd.
10. R&F Group

All of them are going to default, all of them are hiding humongous ammounts of bad debt. You think the 130% dept to GDP ratio of the US is bad? Whait untill they tell you that China is actually indebted with 2400% GDP and that is not a typo! This is Japan 1991 all over again.