China's Blowtorch to Property Bubble Melts Bondholders' Wealth
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What happens when you hand an increasingly authoritarian political figure — one who plays missile target practice with fake US aircraft carriers and is poised to make himself leader for life — a property bubble?
In Xi Jinping's case, he pops it. A crackdown on real estate by China's assertive president triggered the biggest sell-off in the history of the country's international junk bond market and, in a mere six months, bondholders have lost a third of their investments' wealth.
Source Fool.com