There are parallels here for other economies like Canada, which have enabled an unhealthy reliance on debt and realty bubbles.

“If you want to teach a lesson you have to cause pain.”

China Beige Book CEO Leland Miller joins Yahoo Finance Live to discuss why China property fears are concerning investors.  Here is a direct video link.

Meanwhile, the stress in Chinese stocks is not contained in China, see Bank stocks sell-off on China Evergrande Concerns as investors worry who has exposure to its $300 billion in debt.  The below table shows some of the largest mutual funds with direct Evergrande Group exposure.