In America, default and bankruptcy is almost a rite of passage for people in business. It's certainly nothing to be ashamed of. In China, however, failure to pay your debts is a cardinal sin. Offenders are banished to a blacklist. If you're on the blacklist, you can't buy a plane ticket or stay in many hotels. And your face may be plastered on billboards throughout the city, naming you as untrustworthy. Today on the Indicator, we talk with a coal broker who has been on the list for more than two years.
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