Lending in China Is So Risky That Cows Are Now Collateralized

Quoted: “The environment just isn’t right for the practice with low interest rates, balance sheets generally in good shape, plenty of heifers and milk prices are low,” said Mark Stephenson, director of Dairy Policy Analysis at the University of Wisconsin, who said it was more common in the 1990s. “Why would anyone want to lease what they could own?”