Cracking the Puzzle of Suntech's Bankruptcy

Discussion Assignment
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Discussion Assignment
Nobody, including financial experts, business people, industrial specialists, and researchers within the global energy sector, believed about Wuxi Suntech’s bankruptcy. It was a shock to everyone, and the situation posed a considerable impact on the Chinese economy, considering that the firm was a leader in the industry. Suntech’s operations that led it to the top of its competitors demonstrated ethical challenges, which overpowered the company regarding managing it. Specifically, the company based in Wuxi was a victim of its prosperity. It heavily sought financial assistance for development or business expansion like other competitors who did the same. Their practice resulted in a vast overflow and an intense price. Chinese financial institutions felt the burden and called upon the court to declare them insolvent. The ethical practice could not be reversed (Yong, 2017).
The global financial crisis worsened the company’s situation even further, such that it encountered huge losses amounting to approximatel...