How the coronavirus has infected China Inc
China Inc was already struggling before the virus hit, especially the private sector
Beijing is throwing all it’s got at the coronavirus. Less visible than the drama of quarantining communities, however, is the new pressure that the outbreak is bringing on China Inc’s hard-up borrowers.
They face $944bn of debt maturities onshore and $90bn offshore in 2020. Authorities are going back to their old playbook of spewing handouts to get them through. The costs will add billions of dollars of debt and cripple an already-weakened financial system. It may be doing more harm than good...