All those German landesbanks knew who Lehman and bear sterns were. They bought all those subprime mortgages.
Doesn't change the fact that China does influence the world economy quite significantly. Decoupling wasn't the topic.
Money doesn't rest and it doesn't care about politics. On the other hand politics care deeply about money. Decouple this.
China has near-total ability to control its markets - unlike the USA c. 2008. The government can just order banks, pension funds, SOEs and so forth to buy this or sell that (or don't sell) and the managers will do it, because if not they will be executed. If the CCP is letting this Evergrande thing boil for a few more days, it's to show they're genuinely serious about curbing excessive leverage and property speculation. IMO it'll be ring-fenced by Friday. China had the full play planned out weeks ago, if not months ago. For US equities, this is actually a bullish event because it gives the Fed cover to delay tightening yet again. In the meantime, fingers crossed that we get another leg down.