[sgbuffett]

• China’s state-directed economy may be creating the conditions for a new wave of bond defaults that could come as soon as next year, according to an S&P Global Ratings report released Tuesday.
• “The real thing to watch for policymakers is whether the current directives are creating distorted incentives in the economy,” Charles Chang, greater China country lead at S&P Global Ratings, said in a phone interview Wednesday.
• Bond defaults dropped in most sectors last year except for tech services, consumer and retail, S&P found.

https://www.cnbc.com/2024/04/24/china-ma...-says.html