Defaults are at record highs, yet foreign money keeps chasing yield in China's fixed-income market. Finance specialist and author Fraser Howie argues Beijing can console itself: its bonds are part of the global investment landscape as never before:
A panel displaying the closing Hang Seng Index is shown outside a bank in Hong Kong, China August 21, 2015. World stock markets tumbled towards their worst week of the year on Friday and commodities got another kicking, as more alarming data from China sent investors scurrying to the safety of bonds and gold.
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