Personal Finance

China Turns the Tables on Wall Street

Updated Dec. 13, 2023 12:53 am ET

China is upending how the international financial system handles debt crises in the developing world. Wall Street isn’t happy.

Large bond fund managers cried foul last month when China blocked their deal to salvage investments in defaulted Zambian debt. The smackdown came just weeks after Chinese officials brokered a private debt restructuring with Sri Lanka, outmaneuvering Western governments that were trying to do the same.

Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button