Bill Holter’s Commentary
So they default, what are they left with? Infrastructure already built!
China’s Property Troubles Have Pushed One Debt Indicator Above Levels Seen In The Financial Crisis
BEIJING — A measure of risk levels for debt in Asia has surpassed its 2009 financial crisis high, thanks to a surge in downgrades of Chinese property developers since late last year, ratings agency Moody’s said Wednesday.
Among the relatively risky category of Asian high-yield companies outside Japan that are covered by Moody’s, the share with the most speculative ratings of “B3 negative” or lower has nearly doubled from last year — to a record high of 30.5% as of May, the firm said.