China’s economic model isn’t working, but that doesn’t mean the country’s headed for a ‘Lehman moment’

• China’s economy hasn’t rebounded from the pandemic, and its troubles have fueled talks of a “Lehman moment.”
• China experts and economists told Insider that the troubles in the property sector are serious, but different from the 2008 US crisis. 
• “You’re not going to have a comparable banking crisis because of the simple reason you have a state-owned financial system.”

Recent chatter of China facing its own “Lehman moment” hasn’t emerged out of thin air.

President Xi Jinping is overseeing a nightmare cocktail of economic hurdles that include a huge pile of debt, an ailing property sector, demographic hurdles, and deteriorating foreign investment and trade. And, similar to the crisis that ultimately toppled Lehman Brothers in 2008, much of China’s troubles are rooted in its property sector.