Posted on 11/18/2017 2:04:05 PM PST by ameribbean expat
Dandong Port Group, which manages the largest Chinese port trading with North Korea, failed to settle 1 billion yuan worth of bonds that matured at the end of October.
The default raised questions over its ability to honour a further 6.95 billion yuan worth of publicly traded bonds and bills, two thirds of which will mature at the end of next year. *** A fixed-income manager who works in China’s interbank market, where much of Dandong’s debt is bought and sold, told the South China Morning Post that the chances of the company repaying the bonds were “not good”, based on publicly available figures.
A meeting of bond investors, convened by Beijing-based Citic Securities, which underwrote the defaulted bonds, was held on Friday. Citic declined to comment on the matter.
(Excerpt) Read more at m.scmp.com ...
China puts on a show, but overrated economically. Pray for communism to be gone once for all there and in No.Ko.
Isn't that chump change?
What does that say about our 19, almost 20, trillion debt?
Practically EVERYTHING we buy in America is made in China.
They are doing just fine. We on the other hand...
currently 6.63 Yuan to one US Dollar.
Not chump change.
I imagine the cash flow out of NK isn't too good.
As a casual observer not well versed on such matters, it appears to me that although the government of China is solidly communist, the economy, the life blood of the nation, has become solidly capitalist, and becoming more so. I would like to believe at some point the capitalists will hold sway and a change away from communism will occur. What do you think?
Well by all accounts, Christianity is growing and thriving in China — underground or otherwise. SO, it all depends on how the next generation of Christians step it up. If they take the reins of their society and influence the moral/spiritual infrastructure. Otherwise, the society will burn out from materialism and the rat race.
The forced abortions need to stop, for starters.
I have been to Asia not China, but met many young Chinese people — and I’d say for both Russia and China, the youth are reason for hope.
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