The $2.5b default of chipmaker Tsinghua signals China has no mercy for debt-fuelled growth

The $2.5b default of chipmaker Tsinghua signals China has no mercy for debt-fuelled growth

Photo: Bloomberg.

China will almost certainly let a high-flying chipmaker default on $2.5 billion worth of dollar debt, the strongest signal yet that foreign investors shouldn’t count on Beijing to bail them out.

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