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Their foreign creditors presumably can't repossess the HSR lines and take them overseas, and the domestic creditors should be easy for the state to control. May
by ElevenLathe 2y ago
Their foreign creditors presumably can't repossess the HSR lines and take them overseas, and the domestic creditors should be easy for the state to control. Maybe they'll pay back the money, maybe they won't. In the meantime and long after, the trains will run and generate real value for Chinese people and institutions.
- adammarples 2y agoThis is totally fine if you want to destroy foreign and indeed domestic investment. The China Railway Corporation has $859 billion in debt, twice that of Evergrande, which was a disaster.
- inglor_cz 2y agoWow. That is a shocking number. Do you have any interesting reading material on the indebtedness of Chinese railways? Is the system unitary, e.g. the owner of the track also owns all the trains? Or is there a competition?