With the world's second-largest economy, and with annual GDP growth of more than 9 percent, on average, the People's Republic of China (PRC) is central to the global business landscape. The nation plays a key role in many already-stressed global supply chains, which means economic trends in China inevitably cause significant impacts elsewhere in the world.
Chinese companies are not immune to soaring inflation and the rising cost of debt. In fact, issues in the property sector in China have led to mortgage boycotts and new programs to bail out the mortgage and real-estate industries. In fact, Chinese firms had missed payments on $37.3 billion of offshore bonds through mid-2022, with property developers responsible for nearly all of that total.
Given the sharp increase in Chinese defaults and other warning signs of looming business insolvencies, it's likely that an increase in claims being brought involving Chinese entities will be a significant legal trend in years to come, impacting companies that have done business with and in China.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.