According to S&P Global Rating Chinese Local Governments have accumulated in excess of 40 Trillion Yuan ($5.8 Trillion) of off-balance sheet debts and that defaults are extremely likely to occur. A team of S&P Economists lead by Gloria Lu reported that much of this debt built up by Local Governments Finance Vehicles do not have the full financial. “The potential amount of debt is an iceberg with titanic credit risks,” Defaults are beginning to mount in China Missed bond repayments in 2018 have already surpassed previous highs www.ecocropsinternational.com Defaulted publicly issued bonds in China With the National Economy slowing due to the growing trade tensions with the USA, the Beijing set of quota for the issuance of local-Government bonds is not enough to fund the old and new infrastructure projects that are used to support regional growth. Authorities across the country have resorted to LGFV (Local Government financing ...