Beijing
CHINA'S deleveraging campaign will create pockets of pain in markets over the coming year, without curtailing borrowing to the extent that debt declines, according to Pimco.
Pacific Investment Management Co predicts that Chinese companies will be able to refinance most of their borrowings in the next 12 months as the authorities refrain from carrying out broad-based deleveraging. This will contribute to debt expanding faster than nominal gross domestic product, said Luke Spajic, head of portfolio...
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