Red Ponzi Whacked By Rapidly Weakening Yuan, Ballooning Dollar Debt

The prospect of Chinese companies rushing to find dollars to service liabilities comes at a time when authorities have already allowed the currency to sink below 7 per dollar amid a trade war with the U.S. The nation now risks a reprisal of what happened after the yuan’s devaluation in 2015, when foreign-debt servicing contributed to a rapid decline in the country’s foreign-currency reserves.

 

 

 

 

 

 

 

https://www.bloomberg.com/news/articles/2019-08-25/china-s-companies-have-unseen-foreign-debt-that-s-maturing-fast

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