As China’s cash squeeze claims victims across the nation — from a bailout-seeking shipyard to a solar-panel maker missing a bond payment — there are places where Chinese money remains cheap and plentiful. Like Nigeria.
China Development Bank Corp. and Export-Import Bank of China are lending billions of yuan to some of the world’s riskiest regimes at interest rates hundreds of basis points below the cheapest commercial loans available at home. That lending in turn generates overseas contracts to build airports, roads and shopping malls for state-owned Chinese companies that are mired in debt.
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Bloomberg News via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/OsuWHUGQcbc/
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