China’s corporate sector has been hit with escalating credit problems. Here is the latest:1. Shanghai Chaori Energy Science and Technology is about to miss a coupon payment on its bond (see story).2. As a result, Suining Chuanzhong Economic Technology …
China’s interbank rates have unexpectedly spiked last week as the SHIBOR curve (China’s LIBOR equivalent) became highly inverted. Given that there have been no indications of a change in policy by the PBoC (the central bank), there is only one thing th…
China’s slowing economy continues to pose a major risk to global growth. Here are a number of updates to the developments discussed earlier (see this post).1. Imported iron ore prices continue to decline. Stories abound of desperate sellers dumping at …