Brought America: Chinese industrial giant on the verge of collapse
Beijing is increasingly hard to mask problems in the economy. Chinese industrial giant Tewoo Group was on the verge of collapse. Experts believe that this could encourage the Black Sea to negotiate more actively with the United States. In addition, China ‘s situation may deteriorate soon, as the US imposes new duties on Beijing goods in mid-December.
2 min readNov 28, 2019
Chinese industrial giant Tewoo was ranked 132 on the Fortune Global 500 in 2018. Its revenue reached $66.6 billion, profit — $122 million.
To deal with the problems, Tewoo offered investors a debt restructuring plan that does not benefit bondholders. As a result, they may lose 64% of the previously invested money.
The problems of the state corporation are a consequence of the trade war with the United States and the slowdown in China ‘s economy.
Experts interviewed by “Newspaper. USA” believes that the country so far skillfully masks its problems, but the slowdown of the economy is obvious.
The Chinese economy is no longer so dynamic, says Anton…
