Asia's debt-fueled boom threatened by corporate credit meltdown

Asia's debt-fueled boom threatened by corporate credit meltdown

The Straits Times - Business·2020-03-27 07:46

SINGAPORE (BLOOMBERG) - As the coronavirus outbreak roils credit markets around the world, Asia is under particular threat.

The region has led the world in economic growth for years as debt helped fuel frenetic construction of airports, bridges and apartment towers for millions of people moving into cities. That model is now running up against an unprecedented spike in borrowing costs, as investors who piled into the region's riskiest debt at a record pace grow anxious.

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