Euromoney (November 29)
“The travails of Zhongzhi, a key player in China’s poorly regulated $3 trillion shadow financing market, underline why a future crisis in the country is more likely, not less.” The government “continues to let problems mount perilously before stepping in… and to kick cans down roads in the hope that unsteady local banks will resolve bad-debt woes or find their own way out of insolvency…. Eventually, one of these financial mini-crises will mutate into a real monster. One that it cannot control.”
Tags: $3 trillion, Bad-debt woes, Banks, China, Control, Crisis, Government, https://www.euromoney.com/article/2cile3c8qd50c9ovnnrwg/opinion/zhongzhi-shows-chinas-fear-of-losing-control Travails, Insolvency, Perilously, Poorly regulated, Shadow financing, Zhongzhi
