Fleeing China? Credit crises lurk everywhere in emerging markets

Crumbling like a Lego tower – Asian debt markets look fragile. (Image: Getty)

Mon, 14 Nov 2022

By Shuli Ren(Bloomberg Opinion) – Global investors who had enough of Chinese real estate developers’ default drama have been looking for safe havens elsewhere.They are coming away feeling disappointed. Credit crises are lurking in every corner of emerging markets and the latest scares are no less dramatic. Earlier this month, South Korea’s Heungkuk Life Insurance Co. rattled the bond investors with a surprise decision not to call its US$500 million ($822m) perpetual note. Panic selling spread well beyond Seoul. Even...

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