People are concerned about this because of 2 reasons: (1) to see what the PRC does to contain the risk (it looks like they have contained the majority of the

People are concerned about this because of 2 reasons: (1) to see what the PRC does to contain the risk (it looks like they have contained the majority of the risk and forced the executives to pay from their own wealth [smart signaling]) (2) Broader narrative of concern around contagion effects from a Chinese real estate collapse and from a global media perspective its a great FUD similar to wall street financial collapse in the aughts on the surface but once you look deeper not similar at all. Theres always interest to see if a house of cards is about to fall. Also this sells newspaper / clickthrough ad dollars. It's important to watch but the ripple effects on this look to be small and likely to be contained in China.