Dropping Like Flies: Largest Steel Maker In China's Shanxi Province Defaults On CNY 3 Billion In Debt | Zero Hedge - Galt's Gulch

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Dropping Like Flies: Largest Steel Maker In China's Shanxi Province Defaults On CNY 3 Billion In Debt | Zero Hedge

Posted by straightlinelogic 11 years, 11 months ago to Economics

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The snowball is getting bigger, picking up steam.

SOURCE URL: http://www.zerohedge.com/news/2014-03-20/dropping-flies-largest-steel-maker-chinas-shanxi-province-defaults-cny-3-billion-deb

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Posted by richrobinson 11 years, 11 months ago

I need more sand to bury my head in. The talking heads are saying all is well. Actually if China handles this properly their economy will ultimately be stronger. Ours...not so much.

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  Posted by straightlinelogic 11 years, 11 months ago
  
  Yes, failure is an essential element of success. If the Chinese allow failure, they will eventually be stronger for it, as you said. America has tried in so many ways to prevent failure, and we are already paying the price and will continue to do so.
  
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Posted by j_IR1776wg 11 years, 11 months ago

Gee why don't they ask BO for the 3 billion? It's only chump change to him:-)

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