China debt defaults a major worry for investors

Debt default in China has become one of investors’ biggest concerns over the past month, according to a new survey of global fund managers. As the country’s corporate and personal debt pile has increased precipitously in recent years, Chinese firms have struggled to repay loans, adding to investors’ concerns. And the poll also revealed that investors have been paring back their US equity allocations amid a growing belief that American interest rates will rise in the second quart…