The first corporate bond default in Chinese history shook markets last month and investment professionals are bracing themselves for further defaults to come.
Opinion is divided, however, on just how worried investors should be about the impact of Chaori Solar, a solar equipment producer, defaulting on its debt and what this means for Chinese markets and the health of its financial sector.
Andy Warwick, a multi-asset fund manager at BlackRock, the world’s biggest fund house, believes investors have good reason to be concerned as this is likely to mark the first of many bond defaults in 2014.
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