Shuli Ren, Columnist

White Knights Live in Fairy Tales, Not in China

Investors holding out hope for bailouts are sure to be disappointed.

July 22, 2020 at 12:00 AM UTC

Shuli Ren is a Bloomberg Opinion columnist covering Asian markets. A former investment banker, she was a markets reporter for Barron’s. She is a CFA charterholder.

Lu Zhengyao, once upon a time.
Photographer: Victor J. Blue/Bloomberg

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When was the last time you encountered a white knight? Hiding out from Hong Kong’s latest wave of the coronavirus, I haven't seen a human for days, forget about getting rescued.

China Inc. is probably feeling the same way — too many damsels in distress and not enough white knights to go around. More likely than not, many bailout deals will fall through, breaking our hearts and wallets.