China is facing a severe economic crisis as a record number of borrowers face defaults in echoes of the 2008 global financial crash. Defaults by Chinese borrowers have surged to an unprecedented level since the Covid pandemic as the country faces huge
Chinese financial “contagion” may spread to the rest of the world after a British bank lost more than £500million “betting big” on the country, a UK-based expert has warned. The world’s second-largest economy has been under the microscope in recent months, especially