3 min read.Updated: 21 Nov 2021, 10:08 PM ISTShuli Ren', Bloomberg
It faces an intricate jumble of debt that goes far beyond Evergrande
There are two types of scary borrowers in China. The first kind has good-looking assets but it’s unclear how much debt they have hidden away. Think Evergrande. The second has a lot of debt but no assets to shore up their ability to repay, but they have the political connections some hope will help bail out the first kind.