Analysts from Bank of America Merrill Lynch think that China will experience its “Bear Stearns moment” on Friday, when the country will probably see as its first ever bond default.
That is a bold, attention-seeking call that is also patently ridiculous.
Shanghai Chaori Solar, a deeply troubled solar panel maker, has said it will not be able to pay investors the Rmb 89.9m ($14.6m) interest that comes due on Friday.
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