– Ripple effects will impact U.S. institutional investors, pensions, municipalities, banks and more
– US banks getting hit with a liquidity crisis that will only get worse
https://www.cnn.com/2023/11/23/business/zhongzhi-enterprise-group-china-insolvent-hnk-intl/index.html
https://fortune.com/2023/11/24/china-real-estate-zhongzhi-enterprise-group-shadow-bank-real-estate-crisis/
https://www.bloomberg.com/news/articles/2023-11-22/china-s-troubled-shadow-bank-zhongzhi-warns-of-insolvency#xj4y7vzkg
h/t TerraForms