New York | Evergrande’s crisis could be “far worse” for investors in China than a “Lehman-type situation” because it points to the end of the property-driven growth model in the world’s second-largest economy, said short-seller Jim Chanos.

“There’s lots of Evergrandes out there in China – Evergrande just happens to be one of the biggest,” Mr Chanos told the Financial Times in an interview “But all the developers look like this. The whole Chinese property market is on stilts,” said the founder of New York-based hedge fund Kynikos Associates who is best known for predicting the collapse of energy group Enron.

Financial Times