China's entire industrial complex runs on buy-now-pay-later. It seems like everyone there, from small factories to big conglomerates has no money, they borrow it to start production in the hopes they can sell for a profit.
>runs on buy-now-pay-later
Parents of a chinese friend of mine started a business like that in an overseas department of france, a bar, and they had a policy of drink now pay later with the locals who had for habit to spend most if not their entire pay in drinks, and they often ended up broke in the middle of the month. It was that or running into troubles with an island of broke alcoholics essentially, so they settled for that alternative. It worked well, they always ended up paying but later, it's not like back then they had countless alternative spots for a pay later drink...
Sounds like it's culturally ingrained.
Now the business end of the matter has done the same thing. They can't pay for more materials because they can't pay for the ones they already had.
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