Abundant liquidity, government support and a strong yuan fueled Chinese companies’ overseas buying spree.
But since they bought at the peak of the market and did not have a clear strategy for acquisitions, it should come as no surprise that most of those deals have turned sour.
Once bitten, twice shy.
Crisis-ridden companies around the world are hoping that cash-rich Chinese buyers will come to their rescue. But the Chinese are not eager, having gotten their fingers burned.