China extends loans to avoid mass default

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/08d45414-553c-11e1-b66d-00144feabdc0.html#ixzz1mHMkjybd "China extends loans to avoid mass default By Simon... [more]

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/08d45414-553c-11e1-b66d-00144feabdc0.html#ixzz1mHMkjybd "China extends loans to avoid mass default By Simon Rabinovitch in Beijing A mountain of debt is coming due and the principal is unpayable, so governments have agreed to extend maturities. This could be a description of a bail-out package for Greece. Instead, it is what China is doing to prevent scores of provinces and cities from defaulting on bank loans..." http://www.ft.com/intl/cms/s/0/08d45414-553c-11e1-b66d-00144feabdc0.html#axzz1mHBXqhxG [less]