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Record Defaults Hit $800 Billion Chinese Local Debt Market

(Bloomberg) -- Defaults in an opaque corner of China’s local debt market have surged to a record high, ensnaring investors who’d assumed the securities had an implicit guarantee from the state.Most Read from BloombergRobotaxis Are No Friend of Public TransportationBooming Cambridge Exposes England’s Widening Wealth GapOman Sees an Urban Future Distinct From Dubai and Abu DhabiClimate Change Is Killing Buildings in Slow MotionArgentina Drug Trafficking Hotspot Sees Murders PlungeIt wasn’t suppose

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