Nov 1, 2021
China: Corporate debt crisis spreads/Zhongwang: suspended in stock market & fraud conviction in U.S.
Posted by Raphael Ramos in categories: business, finance, law
This company’s entry in the US; market; along with other aluminum giants is said to have caused the shutdown of a large number of Aluminum manufacturers based in the US. It seemed that local US companies were unable to compete with state backed companies which were taking advantage of the free trade agreement.
However, the trade tariffs along with recent events have in turn caused this firm to become insolvent. It’s founder is now being detained by the US under fraud charges.