While the attention of the investment world is fixed on Europe’s troubles and unconventional central bank policy, the continuing deterioration in China’s economic data has gone somewhat unnoticed.
Goldman: China Debt Load Unknown, But Could Be Much Higher Than Thought
China’s economic turbulence continues unabated, the country is struggling to reform its state-owned enterprise sector, debt continues to rise, private sector investment is slowing, and it’s becoming harder and harder for the country to meet its economic growth targets.
Corporate defaults are also rising and while it was always expected that this would be the case, Chinese bondholders are reacting in an interesting way to the defaults.
Something interesting is happening in china’s domestic bond market
A research note from Goldman Sachs published...
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