“This Could Be The Last Straw” 90% Of China Loan Guarantors Bankrupt
From the article:
As The South China Morning Post reports,
Mainland loan guarantors have found themselves ensnared in the woes of the underground banking sector following a fresh wave of bankruptcies around the country.
Creaking under the weight of bad debts, hundreds of guarantee groups would be unable to bear even more, although their services are critical for the economic system and the millions of small firms that provide the majority of the mainland’s jobs.