China Minsheng Investment Group. Photo: Sina
China economy faces threat from obscure financial tool that could trigger domino effect of defaults
- China Minsheng Investment Group triggered wave of US$800 million in ‘cross defaults’ when it failed to make a debt payment
- Experts warn that this could be ‘the tip of the iceberg’ with regard to financial instrument only used in China since 2016
Topic |
China economy
China Minsheng Investment Group. Photo: Sina