01/29/2024 (Mon) 14:50
While this is horrible news for the company and perhaps for China temporarily, this is actually what should be happening to insolvent companies mired in corruption and fiscal irresponsibility around the globe! Bankruptcy, after all, IS
a part of free market capitalism! Bankruptcy allows the market to naturally purge itself of ponzi schemes, insolvency, corruption and unproductive fraud. The only companies that should be in the market place should be solvent productive ones, ones who can easily pay back loans without governmental bailouts or intervention: something that openly defies the way capitalism is supposed to work! I just hope China realizes this and does not vow for irrational bailouts to prop up their fiscal insolvency and irresponsibility. If investors want fraud and debt insolvency let them pivot to the West as it will do them no better in the long run!