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Media Report
July 19 , 2018
  • Bloomberg：A China Borrower's $11 Billion Debt Mountain Comes Crashing Down
    Bloomberg reports: "China this month recorded one of its biggest corporate-debt defaults yet, with the downfall of a coal miner that had ridden the country's wave of credit until policy makers changed the game with their deleveraging campaign. For investors in Wintime Energy Co., it's been far from a winning time now that the company from northern Shanxi province is proving incapable of rolling over debt that quadrupled in less than five years. How the borrower ran up a 72.2 billion yuan ($10.8 billion) tab that it now can't make good on illustrates why this year will be China's worst yet for corporate defaults. And with a potential lifeline from state-owned banks unveiled Wednesday, it could also emerge as an example of China's unwillingness to allow unbridled corporate failures."
  • CNBC：The Japan-China rivalry is playing out in Cambodia's election
    CNBC reports: "Cambodia's general election on July 29 has become a proxy theater for competition between China and Japan as the two vie for influence in the Southeast Asian state. As Phnom Penh's largest foreign investor and economic benefactor, the world's second-largest economy has donated $20 million in polling booths, laptops, computers and other equipment to the National Election Committee, an agency that supervises elections, according to the Associated Press. Tokyo, also one of Cambodia's top donors, has provided over 10,000 ballot boxes worth $7.5 million... Those contributions aren't surprising since both Asian heavyweights hold historically deep ties with the frontier economy. But Tokyo, concerned about Beijing's rising influence across Southeast Asia, is likely acting with strategy in mind."
  • CNN：Tesla's plan to make cars in China won't be easy to pull off
    CNN reports: "Tesla hopes that making cars in China will help supercharge its sales. That's easier said than done. The US electric car maker was given the green light this month to build a production center in Shanghai, following years of negotiations with Chinese officials. Once complete, the factory will allow Tesla (TSLA) to build up to 500,000 vehicles a year in the world's biggest market for automobiles. The first cars should begin rolling off the production line within five years, but Tesla will have to overcome a series of huge challenges to make its bold plans a success."
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