In a conversation with Oliver Renick on the TD Ameritrade Network, Chris Wang, Research Director of Runnymede Capital Management, discusses the Monday market selloff triggered by fears of the Evergrande looming missed debt payment. There is clearly risk given that Evergrande is the #2 property developer in China with over 200,000 employees, 800 projects in 200 cities, and $300 million in debt. However, we do not believe that this is the next Lehman and China will step in to bail out the company or at least have an orderly restructuring of the company. So far the interbank rates do not reflect the same fears of the equity markets as the TED spread is flat from Friday.