While U.S. Secretary of State John Kerry expressed his support for multilateral negotiations and legal resolutions, his Chinese counterpart repeated prior assertions that China will only negotiate on an individual basis with rival claimants in the South China Sea and will not recognize a decision by an international arbitration body on the case brought by the Philippines.
Opinion: China’s plan to let banks swap bad debt for equity won’t help address the most significant sources of the problem
The debt-for-equity swap program, described by officials as restricted to firms with long-term potential and short-term difficulties, fails to address the bulk of the bad loans and "points to a stark disconnect between what policy makers want, and what pillars of the financial system such as the state-controlled banks are actually able to deal with," writes Anjani Trivedi.
China in 2 minutes a day
More from SupChina
Friday, January 13
Food of the southwest
Jan 13, 2017