China's Massive Loans Lead to Even Bigger Bailouts.
TL;DR Summary
The full text of the Chinese government's bailout loan agreement has been released, revealing that the country's central bank will provide up to Rmb1.2tn ($173bn) to China Huarong Asset Management, a state-owned bad debt manager. The loan is intended to help stabilise China's financial system and prevent a potential crisis. The move comes as China's economy continues to struggle with high levels of debt and slowing growth.
- That big Chinese bailout loan paper in full Financial Times
- After Doling Out Huge Loans, China Is Now Bailing Out Countries The New York Times
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- China gave huge loans to Belt and Road countries. Now it's spending billions to bail them out CNN
- China's Cities Are Buried in Debt, but They Keep Shoveling It On The New York Times
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