, Columnist
The Best Way to Avoid a $1.9 Billion Default? Just Let Go
Even as China’s companies struggles to repay their loans, some are unwilling to part with their assets.
The cold never bothered me anyway.
Disney
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Sometimes, letting go is the hardest thing to do. China’s most ambitious companies have yet to learn that lesson.
The corporate sector has gone on a global shopping spree in recent years, buying expensive assets by raising new debt. Now, struggling to repay their loans, some are unwilling to part with their purchases, even as they walk to the brink of bankruptcy. The end result can only be untimely defaults.