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“Common prosperity” can’t be achieved at the cost of precipitating a financial crisis: John Woods of Credit Suisse

John Woods, Credit Suisse

The surprise default on a dollar bond traded offshore by Fantasia Holdings Group Co., is putting already jittery investors on tenterhooks into the weekend. With revenue not even one-tenth that of the China Evergrande Group and a US$12.9 billion debt that is dwarfed by Evergrande’s more than US$300 billion obligations, Fantasia’s reluctance to pay up US$206 million to bondholders on…

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