Between slowing growth, deflation and trade tensions, 2023 is fast climbing the charts as another year to forget for private bankers when it comes to China. Yet the default drama at China’s largest privately-owned developer is further raising the stakes for Asia’s number one economy. On August 7, Country Garden Holdings reportedly did not make US$22 million of coupon payments…
China’s latest default drama raises stakes for private bank portfolios
By William Pesek, contributing editor | 14 August 2023
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