Last June, when looking at the most unstable of China's mega conglomerates Anbang Insurance (the others are HNA, China Evergrande and Dalian Wanda), we said that "Anbang's troubles could soon become systemic." Half a year later, that's exactly what happened when in a "surprising" twist, the $315 billion insurer was bailed out by Beijing, just days after we pointed out the tremendous surge in the yield on its bonds.
No comments:
Post a Comment