Using qualitative methods, this article focuses on the relationship between the COVID-19 health crisis and China’s foreign policy and foreign relations. My main argument is that since its outbreak in late 2019, the COVID-19 health crisis has deepened the tensions already existing between China...

Implicit government guarantees in the Chinese bond market, which shaped investors’ belief in rigid payment, have been withdrawn after the first bond default, causing spillover effects on non-defaulted bonds. This study investigates the intra-regional spillover effects of the staggered first...

This paper examines the intra-industry effects of bond defaults on corporate cash holdings. The staggered difference-in-differences regression results find that corporate cash holdings decrease following the first default within each industry, and the results are driven by firms with more severe...