China’s Li Keqiang warns investors to prepare for wave of bankruptcies

World’s second largest economy is facing ‘serious challenges’ and many companies with high debts are being forced to the wall

China is braced for a wave of industrial bankruptcies as its slowing economy forces companies with sky-high debts to the wall, the country’s premier has said.

Premier Li Keqiang told lenders to China’s private sector factories they should expect debt defaults as the world’s second largest economy encounters “serious challenges” in the year ahead. Continue reading