Moody's downgraded CCP government credit rating today to negative from stable. Evergrande is the straw that beaks the dragon's back. The are many big time Yank funds that have large chunks of cash invested in the Middle Kingdom, and the cows are coming home to a fund in YOUR retirement account. The world's economy is as interconnected any other house of cards and it only takes a light breeze to bring it down. Evergrande is a Typhoon on an oriental scale. Hurricanes only go up to 5.0, but Typhoons are much larger and much more intense. CCP intentionally spread Wuhan Virus into Italy, Canada and the US to insure that the west didn't escape the effects of epidemic in China, and they will do the same when their monetary system fails, which looks like it will occur in the immediate future. That will cause civil chaos in China and the thousands of Islamic and CCP military-age illegal immigrants that have been allowed to come over the Mexican border will go to work to spread chaos in the US., and Islamic terrorists generously sprinkled throughout the EU will do the same there.
Exactly how far all that goes is anybody's guess, but it is the road that leads to Armageddon. On the plus side, the CCP's diagnosis includes, "Get your personal affairs in order, and don't make any long term plans..."