Chinese corporate debt troubles. Two Chinese state-linked enterprises said Monday that they would not be able to meet upcoming onshore bond repayment obligations. Defaults at state-backed firms in China carry particularly high risks of contagion, as they signal to other distressed firms that a state rescue cannot be assumed. Indeed, at least 20 Chinese companies […]
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Daily Memo: Risks of Debt Contagion in China
Defaults at state-owned enterprises are a warning to other distressed firms.
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