Posted on 12/26/2020 4:45:49 PM PST by SeekAndFind
Since then, the company claimed that it had no cash to pay the principal and interest of its credit bonds, and its rating was downgraded to A+.
On Nov. 20, the Shenyang Intermediate People’s Court ruled that Brilliance’s creditors should reorganize the company—meaning Brilliance had gone bankrupt. But Brilliance’s joint-ventures with European automakers BMW and Renault were not impacted.
Chinese economists have previously pointed to the problem of unreliable ratings by Chinese bond rating agencies.
Only six such agencies have formal licenses in China, according to state-run media Jing Wei.
T post. sum ting wong.
Exclusive Documentary: Who’s Stealing America?
Great work by Epoch Times and Joshua Phillip on the above. If you have the time, I highly recommend it.
It probably caused by all the lockdowns they had this year as well as the various sanctions and tariffs against China.
A British think tank says China’s economy will overtake the USA economy by 2028 .... just saying ....
[Brilliance Auto, the largest state-run vehicle manufacturer in Liaoning Province, was ranked AAA by at least two Chinese bond rating agencies, Dagong Global and Dongfang Jincheng. On Sept. 20, Brilliance could not pay back interest on its matured credit bonds.
Since then, the company claimed that it had no cash to pay the principal and interest of its credit bonds, and its rating was downgraded to A+.]
Trump has them on the ropes and if the Big Steal goes through, they will own us.
B-b-b-but, a British think tank says the Chinese will surpass us economically in just a few short years!
Kai-Fu Lee at the edge.com claims the Chinese data collectors are way ahead of ours. He likens them as “Chinese Gladiators”. I don’t see it...unless the Mao-lovers...er co-conpirators take over the republic. Then, it’s prolly probable. Too many politicos in bed with CHYna. FangFang is not a “honey pot”. She’s just doing business with her allies. CHYnafornia is practically a suburb of CCP. If Western civilization starts a counter-offensive on CCP CNP - Comprehensive National Power, the CCP will fall apart like a chinese made children’s toy.
Massive flooding along the Three Gorges Dam and river sure didn’t help.
My guess is that financial advisors for some big US pension funds pocketed some hefty commissions for downloading these turkeys into the funds.
American workers get scr#wed again!
For China, and their SOEs, $24b is mouse nuts.
You mean Chinese bonds are not reliable?
This is Joe’s “shocked face.”
“...You mean Chinese bonds are not reliable?...”
Chairman Zhou will make it right.....for China.
I pray every single day and night for the hand of the Lord to bust that dam wide open. I mean it. I want those Chinese bastards to feel real pain. They’ve caused more than enough to the world in the last 70 years.
No. Different levels of government but not different level governments. There is only one government in a Communist organized state. The smaller divisions are just that, divisions of the overall government.
Those people know more about the red bastards than anyone I have ever watched.
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