China’s Companies Binged on Debt. Now They Can’t Pay the Bill. Rising bond defaults raise new questions about whether Beijing can effectively address its huge debt problem.
Chinese companies owe hundreds of billions of dollars in debt that is coming due over the next two years, including more than $200 billion owed to lenders and investors around the globe.
While most of the lending comes from banks, Chinese borrowers have increasingly turned to the bond market to get money they need to run their businesses. Now the bill is coming due.
According to S&P Global, Chinese companies must pay back $90 billion in debt denominated in American dollars, meaning the lenders are global companies and investors outside China. In 2021, an additional $110 billion will come due.
At home, Chinese companies will have to pay $694.6 billion to bondholders next year and $706 billion in 2021.
https://www.nytimes.com/2019/12/12/business/china-default.html
I just finished consulting with US startup that was funded from China for semiconductor design of image processor. After chip was functional, they transferred design to China and shut down startup. Technically not theft, marginal ITAR - definitely action of enemy, not competitor