Investors Fear China’s ‘Lehman Moment’ Is Looming

Zhongrong International Trust, a seller of esoteric financial products that had the equivalent of $108 billion in assets under management at the end of 2022, has become the market’s latest worry. 

Zhongrong is part of a larger, sprawling financial conglomerate called Zhongzhi Enterprise Group that owns several wealth-management businesses. 

If their repayment problems and defaults snowball, it could imperil many more investment products that were sold to numerous companies and wealthy individuals in China. 

Wall Street Journal 18 August 2023

https://www.wsj.com/finance/investing/investors-fear-chinas-lehman-moment-is-looming-4364855d

The mere mention of a “Minsky moment” is enough to send shudders through policy makers

https://englundmacro.blogspot.com/2023/03/the-mere-mention-of-minsky-moment-is.html