China Enters Economic Chaos as Another Massive State Owned Enterprise is Defaulting !!
Channel: GeoStar TV
Date: 2020-04-06

China Enters Economic Chaos as Another Massive SOE is Defaulting !!
An important Chinese State-owned enterprise is collapsing; as are multiple Chinese banks. 
 China’s banking sector is showing signs of strain, with more than 13% of 4,379 lenders now considered “high risk” by the central bank.

Something is starting to severely crack in China's financial system.
Only three days after we posted a video about the self-destructive doom loop that is lacerating China's smaller banks,  where a second bank run occurred in just two weeks - an unparalleled event for a country where up toearlier this year not a single bank was allowed to fail publicly and has so far this year no less than five banks high profile nationalizations/bailouts/runs . China is facing the biggest state-firm offshore debt failure in 20 years.China Braces For December D-Day: The unparalleled and  Unprecedented Default Of A Massive State-Owned Enterprise.

Tewoo , a major Chinese commodity trader, looks poised to become the most high-profile state-owned enterprise (SOE) to default in the US dollar bond market in over two decades. In a fresh sign that Beijing is more willing to allow failures in the politically sensitive SOE sector, Tewoo Group has offered an unparalleled debt restructuring plan that implies deep losses for investors or a trade for new bonds with considerably lower returns.
Commodity giant Tewoo Group reportedly could become one of China's all-time high profiled state-owned enterprises to default on a U.S. dollar bond.
«Tewoo Group is very likely to default on its 300 million US dollar bond due December 16 » Bloomberg said in a report citing unnamed buy-side sources linked to the firm’s offshore debt manager.
Tianjin-based Tewoo has businesses in infrastructure, logistics, mining, autos, and ports, its website said, with presence in the U.S., Germany, Japan, and Singapore. In 2017, the unlisted firm reportedly generated an annual revenue of $66.6 billion and housed more than 17,000 employees.
Dollar bonds? It’s the FEDs problem then. 
This is HUGE!

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