Re Analysis. In this case, maybe doesn't cut it.
Not only that, the source you mentioned hasn't been shown to be correct on his "assumption"
When derivatives start to fall apart, there is no way to stop it until they rebalance to "FAIR VALUE" or slightly lower, which is what happened in the US with sub lenders.
Chinese realtors, banks and industry have been using real estate derivatives as a form of currency for the past decade and have overvalued the commodity beyond possible redemption.
The Chinese tried to stem the flow of bleeding by forcing Evergrande into receivership and limiting shorts. Didn't work in the US and it won't work in China, unless the Chinese government assumes the debt.
If the Chinese government assumes those debts, they will have to call in most of the demand loans across the world.
This will have a significant ripple effect way beyond that of what happened in the US, where most of the derivative fallout was internal. That isn't the case in China.
Much of that derivative debt was taken on by foreign corporations, with manufacturing facilities there.
Again, this is just IMHO.
Today, a couple of US sub lenders went into receivership. NYCBancorp was one of them. They are the fifth largest sub lender in the US and from what I can deduce, have similar debt on their books in China, through straw corporations or borrowers in North America sending the money to China, they always find a way around the rules, by hook or crook.
GLTA the good folks here.