In a Bloomberg TV interview on Tuesday, Standard Chartered’s Chief Executive Officer Bill Winters said “Chinese government won’t allow the turbulence surrounding stricken property developer China Evergrande Group to turn into a systemic crisis.”

“This idea that this was something of a Lehman moment for China: I don’t think China’s frankly that dumb”

“The broader global economy, meanwhile, is facing a bumpy recovery from the Covid-19 pandemic.”

“I’m not desperately concerned about the economy but I think it’s going to be a little bit harder,” he said. The removal of pandemic-era support measures will take away some momentum.”

“I think the inflationary pressures are transitory, but I also see structural wage pressures that are building up on the back of a reasonably strong economy and other dislocations that will not be easily resolved.”

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