China's Blowtorch to Property Bubble Melts Bondholders' Wealth
For more crisp and insightful business and economic news, subscribe to The Daily Upside newsletter. It's completely free and we guarantee you'll learn something new every day.
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
