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CHINA 2015 CRISIS: State -Run Bond Defaults On Interest
Not Concerned About China’s
Financial Crisis? You Should Be
In February, IVN reported on
a mostly ignoredstudy claiming that
the world, especially China,
was at risk of default (and possible economic meltdown) because of skyrocketing
Tuesday, almost all media outlets worldwide picked up on the first Chinese-state
owned business allowed to default.
in a cooling economy, Baoding Tianwei Baobian Electric missed its $13.8
million interest payment due on April 21 for bonds traded within China. Even
though it is a state-owned company, Beijing
let them default.Read