In the past, China said it never issued a bad bond. 2 Chinese national bank bonds missed their re-payment deadline in the past 5 days. Worth about $250 million each. Couldn't hide those, they were too big.
Remember when the Chinese tried to globalize the yuan to compete with the dollar? The result was $1 trillion of capital flight out of China in only 4 months, by the Chinese people, so the CCP shut it down. The Chinese people know their system is massively over-credited to the tune of one Obama bailout ($800 billion over 2 years) happening every 17 DAYS.
In the past, China said it never issued a bad bond. 2 Chinese national bank bonds missed their re-payment deadline in the past 5 days. Worth about $250 million each. Couldn't hide those, they were too big.
Remember when the Chinese tried to globalize the yuan to compete with the dollar? The result was $1 trillion of capital flight out of China in only 4 months, by the Chinese people, so the CCP shut it down. The Chinese people know their system is massively over-credited to the tune of one Obama bailout ($800 billion over 2 years) happening every 17 DAYS.
Get your money out of China. NOW