International experts warn that other debt-ridden countries — from Laos in Southeast Asia to Kenya in East Africa — are teetering toward a similar fate.
FINANCE
Sri Lanka ‘can’t get out of crisis without China,’ analyst says
The island nation is facing its worst financial crisis since independence. On top of fuel shortage, it’s also facing prospects of running out of food.
Duterte aide: Marcos administration should drop China-backed loans for rail projects
Three projects, part of former President Duterte’s “Build, Build, Build” program, went unfunded for six years.
Chinese tanks roll on streets to scare Henan Bank protestors
The Chinese Communist Party tanks on Wednesday rolled on the streets to scare Henan bank protestors amid large-scale protests in the province by bank deposito …
China’s next big worry: A mortgage crisis knocking on its doors
Property giant China Evergrand, in a letter to local authorities in 2020, had said that the cash crunch could lead to huge financial and social risks. It had mentioned that two million buyers might …
China’s digital yuan gets fresh push from Beijing, but consumers see little incentive to use e-CNY
Local governments, banks and media have been promoting the e-CNY through new trials, loans and praise, but it’s just another payment app for consumers Trials have expanded to 11 new cities this year, …
China’s oil purchases from Russia dropped 13% in June as lockdowns knocked the economy
China and India have stepped up their purchases of Russian oil this year, but economic slowdowns are now causing imports to fall.
China has a hand in Sri Lanka’s economic calamity
Chinese loans loom large in some debt-ravaged countries — including Sri Lanka, which is facing economic turmoil.
Beijing leaves landings rates unchanged
In a statement, the People’s Bank of China said the one-year and five-year loan prime rates – which are set by a panel of lenders overseen by the central bank – had been left on…
China Junk Debt on Brink of Record Low as Property Woes Grow
Chinese junk dollar bonds are hovering near a record low set in March, as the country’s property crisis deepens with pain spreading from developers to suppliers and banks. Most Read from …
China Junk Bonds on Brink of Record Low as Property Woes Grow
Chinese junk dollar bonds are hovering near a record low set in March, as the country’s property crisis deepens with pain spreading from developers to suppliers and banks. Most Read from BloombergS&P …
China’s Central Bank Keeps Benchmark Rates Despite Rising Risks
China’s central bank Wednesday kept its benchmark lending rates unchanged, in line with market expectations, despite rising financial risks amid slowing economic growth.
China on cusp of joining high-income club, but slowdown raises spectre of middle-income trap
Chinese officials have trumpeted dazzling economic figures to make the case that the country can escape the middle-income trap, but some inconvenient statistics point to a worrying trend for the world …
