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China’s bond defaults may lead to poor places becoming poorer and rich places richer

Summary:
[unable to retrieve full-text content]One consequence from recent defaults in China’s bond market is that there is likely to be an acceleration of money flowing from the country’s poor provinces into a handful of already affluent areas such as the Pearl River Delta and the Yangtze River Delta.If the monetary displacement is large enough, it could result in regional polarisation in the world’s second-biggest economy, with the rich areas becoming richer and the poor places poorer – a situation that would have far-reaching…

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[unable to retrieve full-text content]
One consequence from recent defaults in China’s bond market is that there is likely to be an acceleration of money flowing from the country’s poor provinces into a handful of already affluent areas such as the Pearl River Delta and the Yangtze River Delta.If the monetary displacement is large enough, it could result in regional polarisation in the world’s second-biggest economy, with the rich areas becoming richer and the poor places poorer – a situation that would have far-reaching…
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