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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Stefan who wrote (49261)	2/28/1999 6:54:00 PM
From: Peter Singleton	Respond to of 132070

Stefan, It sure looks like big stuff is happening, pretty much behind the scenes, in China. I thought this was interesting about Guandong Enterprises. A few weeks ago the Chinese indicated they'd renege on their debts, and in the last couple of days they've backtracked completely. hmmmm ... wonder if they're worried about a credit crunch? <g> Peter interactive.wsj.com February 26, 1999 ------------------------------------------------------------------------ Outlook for Guangdong Creditors Improves With Reversal on Funds By ERIK GUYOT Staff Reporter of THE WALL STREET JOURNAL HONG KONG -- An individual familiar with struggling Guangdong Enterprises (Holdings) Ltd. said that creditors would get back every penny of US$2.94 billion in debts. That pledge marks a significant reversal at the company, the main trading and investment arm of China's Guangdong province. Previously, provincial officials and others involved in restructuring the company's debts had indicated that creditors were likely to suffer losses. [article continues]