China’s US dollar debt defaults climb as coronavirus, US tensions hit firms’ bottom lines

Summary:
[unable to retrieve full-text content]Defaults by Chinese firms on their US dollar-denominated debt have risen significantly this year as the coronavirus pandemic, a slump in oil prices and deteriorating US-China relations have hurt business and reduced their ability to repay.This environment has caused a decline in market confidence, triggering a shortage of dollar liquidity that is limiting some firms’ ability to borrow US dollars to pay back existing debt.US dollar bond defaults by Chinese firms have jumped threefold to US…

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