The Unfolding Crisis That Is Evergrande.

Financial crises are unlike any other great corporate catastrophe. There is no visible indication that anything is amiss. Unlike a giant industrial fire, or a mine collapse, or an oil well fire. There is really nothing to see.

 

And unlike any of those other tragedies, the financial crisis is usually not a surprise. Management and the financial division usually know months in advance that the crisis is inevitable.