Evergrande set for collapse causing 'great reset' worse than 2008.

Global bubble BURSTS: Evergrande set for collapse causing ‘great reset’ worse than 2008.
THE global financial system is set for collapse and will be worse than the 2008 economic crash, one expert has claimed.

China Evergrande faces £221billion of debt, and one expert has claimed the company’s collapse could spark the fall of the financial system. Speaking to Express.co.uk, Dr Marco Metzler from Deutsche Marktscreening Agentur (DMSA), claimed the collapse of the Evergrande is the first domino of the eventual destruction of the world financial system. Due to the size of the property market, estimated at $55trillion (£40trillion), he claimed the collapse of China’s property market, will create a worse financial meltdown than what was seen in 2008.

Indeed, the property market when including construction and property-related goods and services, totals 29 percent of China’s GDP.

Dr Metzler said: "This is the first domino of the collapse of the market."

He added: "It will be even worse than the 2008 financial crash.

"The market is bigger than what the US was.


"Plus, the supply chains aren’t working and there is inflation.