Beijing's talking a tough line about reforming China's (over) investment-led growth model, but...
Beijing's talking a tough line about reforming China's (over) investment-led growth model, but the impending failure of the country's largest shipbuilder -Rongsheng Heavy Industries, well-connected and employing 20K - will likely cause policymakers to blink. Talk about a miss - the company had sales of $55.6M last year against a target of $1.8B. The annual report shows short-term borrowings 8x greater than cash on hand.
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