Reuters
- Tightened credit conditions have one Chinese manufacturer with $ 7 billion in debt begging for help. It won’t be the last one to do so.
- Beijing will have to start deciding who lives and who dies in China’s corporate sector.
- Investors shouldn’t just worry about who gets bailed out, they should also worry about how. In China, healthy companies can easily be conscripted to save sick ones.
A private Chinese manufacturer, DunAn Group, has sent a letter begging the Chinese government to help it out with its $ 7 billion of debt.
Expect to hear more companies cry for help as the government attempts to ween the country off of the easy credit that has lubricated its corporate sector since the Global Financial Crisis in 2008.See the rest of the story at Business Insider
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