Watching the continuing trials of the debt-laden Chinese conglomerate HNA Group Co., we are reminded that the side effect of years of central bank largesse will be debt deflation of epic proportions.
The massive liabilities accumulated by the likes of HNA, Anbang Insurance Group, and even Japanese firm SoftBank Group Corp. will eventually come back to haunt these ambitious Asian debtors. And behind them stands the world’s most indebted state, China, governed by the regime leader Xi Jinping.
