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I remember not long ago some of those Bonds from Chinese companies with Interest Rate of 13- 17%, and they were in USD. I was thinking that is too good to be true. As it turns out there is a high chances you don't get anything back.

The thing is I don't understand why and how there is a lack of liquidity in China. It all changes within 18 months, from they have too much money and starting buying even more overseas to literally scrambling for cash.

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It is not news that you don't get anything back. There is a documentary (forgot the name, but should be googleble) about how China created loads of fake companies to get money from naive investors.

The problem with this whole situation since day one was: How can you be sure that you're not cheated if it's in the other side sovereign's interest when you get cheated.

So yes, there was probably never a point where you could have invested reasonably into Chinese bonds or stocks or startups.

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