Chinese companies are taking a cue from Springfield.
Tight credit and a weak business climate are forcing Chinese companies to neglect their bills, resulting in a surge in many businesses' accounts receivable.The article notes particular problems in coal, steel, and heavy machinery. Put another way, other developing countries are now stealing the now-routine heavy industry advantage from China.
Accounts receivable refers to money owed but not yet collected from a company's clients.
Enterprises are struggling to pay suppliers on time, adding to the financial strain felt by the suppliers, which in turn find it hard or impossible to repay their creditors.