[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-0-en-105":3,"doc-seo-628849-105":59,"doc-detail-628849-en":130},{"code":4,"msg":5,"data":6},0,"success",[7,13,18,23,28,33,38,43,48,51,55],{"id":8,"doc_module":4,"doc_module_name":9,"category_name":10,"show_sort_weight":11,"slug":12},1,"Document","Story & Novel",90,"story-novel",{"id":14,"doc_module":4,"doc_module_name":9,"category_name":15,"show_sort_weight":16,"slug":17},2,"Literature",80,"literature",{"id":19,"doc_module":4,"doc_module_name":9,"category_name":20,"show_sort_weight":21,"slug":22},4,"Exam",70,"exam",{"id":24,"doc_module":4,"doc_module_name":9,"category_name":25,"show_sort_weight":26,"slug":27},5,"Comic",60,"comic",{"id":29,"doc_module":4,"doc_module_name":9,"category_name":30,"show_sort_weight":31,"slug":32},6,"Technology",50,"technology",{"id":34,"doc_module":4,"doc_module_name":9,"category_name":35,"show_sort_weight":36,"slug":37},7,"Healthcare",40,"healthcare",{"id":39,"doc_module":4,"doc_module_name":9,"category_name":40,"show_sort_weight":41,"slug":42},8,"Research & Report",30,"research-report",{"id":44,"doc_module":4,"doc_module_name":9,"category_name":45,"show_sort_weight":46,"slug":47},9,"Religion & Spirituality",20,"religion-spirituality",{"id":46,"doc_module":4,"doc_module_name":9,"category_name":49,"show_sort_weight":46,"slug":50},"World Cup","world-cup",{"id":52,"doc_module":4,"doc_module_name":9,"category_name":53,"show_sort_weight":52,"slug":54},10,"Lifestyle","lifestyle",{"id":56,"doc_module":4,"doc_module_name":9,"category_name":57,"show_sort_weight":24,"slug":58},19,"General","general",{"code":4,"msg":60,"data":61},"ok",{"site_id":62,"language":63,"slug":64,"title":65,"keywords":66,"description":67,"schema_data":68,"social_meta":123,"head_meta":125,"extra_data":127,"updated_unix":129},105,"en","financial-times-can-an-ailing-china-avoid-japanification","FINANCIAL TIMES - Can an ailing China avoid Japanification?","","A Financial Times briefing examines strategic and economic concerns across China, Canada, and wider global markets. It highlights Alberta voters rejecting a separatist bid and references investor and policymaker commentary around market sentiment. The core analysis focuses on surging credit default swap demand tied to AI infrastructure and major tech-linked borrowers, describing rising protection costs, investor hedging behavior, and the risk of an AI-driven borrowing cycle turning adverse.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/financial-times-can-an-ailing-china-avoid-japanification/628849/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/financial-times-can-an-ailing-china-avoid-japanification/628849.png","ImageObject",300,407,{"name":92,"@type":93},"Pentious","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-30","2026-10-21",true,{"@type":102,"interactionType":103,"userInteractionCount":39},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What does the Alberta voting result indicate in the document?","Question",{"text":112,"@type":113},"Alberta voters overwhelmingly backed staying in the remaining part of Canada, with more than 75% against holding a separatist referendum and about 25% in favour.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"Why are investors buying more credit default swaps in the document?",{"text":117,"@type":113},"Investors are racing to buy default protection because protection costs for AI-linked and hyperscaler-related borrowers have risen, reflecting concerns that the AI boom could unravel and borrowing could turn risky.",{"name":119,"@type":110,"acceptedAnswer":120},"Which market metric is described as a key bellwether for investor sentiment?",{"text":121,"@type":113},"The document states that credit default swaps (CDS) have become a key bellwether of investor sentiment toward hyperscaler funding and the broader AI trade.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},628849,1793052805,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":39,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":139,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":145},1374404730887,"https://ap-avatar.wpscdn.com/davatar_6f874abed73319feea01a86fa6f0fab8","FINANCIALTIMES  \nUSA $3.00  \n# Can an ailing China avoid Japanification?\n\nPutin has plenty of sympathisers in AmericaEDWARD LUCE,PAGE 17  \n# Canada voteAlberta rejectsseparatist bid\n\nBriefing  \nSupporters of the Forever Canadiangroup in Edmonton,Alberta,celebrateyesterday after voters in the oil-richprovince overwhelmingly backedremaining partofCanada.  \nMerz defends landlords  \nMore than 75per cent of voters inAlberta were against holding a referen-dum on whether to leave Canada,while25 per cent voted in favour,with 80percent ofthe ballots counted.  \nPrime Minister Mark Carney,whowas raisedin Edmonton,had urged vot-ers in the final days of campaigning toagainst US Presiden Donald Trump'shostilities.\"Above all,Albertans choseCanada,\"he said yesterday.  \nUKjets to assis Saudis  \nCarney,who was Bank of Englandgovernor during Britain's Brexit refer-endum in 2016,had warned Albertansthat many proponents who wanted toleave the EUnowregretted the decision.Carney hailsvote page4  \nPensions chief attacks PE  \nAI debt nerves trigger race for defaultinsurance in case boom turns to bust  \nUS lawfirm expands inUK  \n▶Bucharest ends impasse  \n◆$9bn of CDStraded per weekeCost ofprotection hits recordoDerivatives famous for financial crisis  \nstructureto openATand Anthropicsuch  \nas Oracle and Alphabet.  \nFive-year Meta CDS has this monthclimbed to 108 basis points,meaning itcosts $108,000 a year to insure s10mnof debt against default,while deriva-tives tied to Nvidia have climbed to101bp.Protection against Alphabet andAmazondefaultis also at record highs.  \nUShomesales slump  \nBut while the price of some top techgroups'CDS is on the rise,it is sil rela-tively low compared with spreadson theAIcmpanies investors deem riskier.  \nOracle's CDS is now 322bp,up from144bpat the start of the year.The five-year CDStiedto CoreWeave debt is trad-ingat about 1,090bp,with demand sohightha abuyerof $10mnof protectionwould need topay$1.82mn upfront.Spoils of boom&US dominance page9  \nIt is a truth universallyacknowledged,that a single man inpossession of a goodfortune,must be inwant of a rare book.SHAPERORARE BOOKSSHAPERO.COM  \n## RAMSAY HODGSON—NEWYORK\n\nStanley Research.US corporate CDSindex trading volumes this year haveInvestors are racing to buy creditovertaken last year's total,according todefault swaps to protect their portfoliosBloomberg.in the event that the AI boom unravels,In a sign of investor unease over thesending trading volumes surging for anborrowing binge,the cost ofbuying CDSinstrument that shot to prominenceon many AI-linked groups this monthduring theglobalfinancial crisis.hit record highs.This so-called spreadThe wave of borrowing to financehas climbed not only for groups thattrillions of dollars of AI infrastructureinvestors judge as riskier,such as AIspending is fuelling demand for thesecloud-computing provider CoreWeave,insurance-like derivatives,which payout if the company they are tied tobut als forthosesuchas Microsoft.             defaultsonits debt.Bonds issuedby Oracle,  \n\"CDS hasbecom a key bellwetherofinvestor sentiment towards hyperscalerfunding and the broader AI trade,\"saidManish Kabra,head of US equity strat-egy at Société Générale.\"The market isincreasingly focused on two things:CDSand free cash flow.\"  \nwhere the risk is very concentrated,what you want to buy is CDS,\"said JimCaron,chief investmen officer of theportfolio solutions group at MorganStanley Investment Management,add-ing that these swaps were also a \"cheaphedge\"forinvestors.  \nAI-linked debt issuance has rocketedwith companies raising an estimated$466bn so far this year,up from $101bnin the same period in 2025,accordingtoMorgan Stanley,to fund infrastructuresuchasdatacentres and chips.  \nTraditionally the reserve of purecredit investors,mult-asset and equitymanagers are increasingly using theseswaps as way to hedge AI exposure.\"One part [of demand]is a true bondinvestor looking to hedge their book,\"said Caron.“Another part is multi-assetandequity speculators ","cbCaiaZbz3XMRmtI","https://ap.wps.com/l/cbCaiaZbz3XMRmtI","pdf",31069975,18,"English","# Can an ailing China avoid Japanification?\n# Canada vote\n## Alberta rejects separatist bid\n# Financial markets: Credit default swaps and AI-linked debt","[{\"question\":\"What does the Alberta voting result indicate in the document?\",\"answer\":\"Alberta voters overwhelmingly backed staying in the remaining part of Canada, with more than 75% against holding a separatist referendum and about 25% in favour.\"},{\"question\":\"Why are investors buying more credit default swaps in the document?\",\"answer\":\"Investors are racing to buy default protection because protection costs for AI-linked and hyperscaler-related borrowers have risen, reflecting concerns that the AI boom could unravel and borrowing could turn risky.\"},{\"question\":\"Which market metric is described as a key bellwether for investor sentiment?\",\"answer\":\"The document states that credit default swaps (CDS) have become a key bellwether of investor sentiment toward hyperscaler funding and the broader AI trade.\"}]","FINANCIAL TIMES - Can an ailing China avoid Japanification? | PDF",1792619103,45]