China markets are roiled by a property crisis once again.
Two years ago it was Evergrande. Now it is Country Garden.
Instinctively, we seek to draw from history, searching for comparable instances that could help us understand this issue better. The freshest recollection directs our attention to the US subprime mortgage crisis, which precipitated the 2008 economic downturn.
As we were trying to find parallels between these events, we ended up findi...