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Economic analyst says China’s shadow banking practices bear similarities to the U.S. subprime lending that triggered the last global financial crisis

2 months ago
Sky Canaves
ogan Wright, director of China markets strategy for the research firm Rhodium Group, says the country has no more than 18 months before credit derived from risky products become unsustainable. “Everyone assumes it’s a stable system, it’s deposit-funded. It’s just not true anymore.”
By Sky Canaves
Sky Canaves previously reported for The Wall Street Journal in Beijing and Hong Kong, where she covered media, culture, social issues, and legal affairs, and served as the founding editor and lead writer of the WSJ’s China Real Time site. Prior to becoming a journalist, Sky worked in the China corporate law practice of Baker & McKenzie, and she has also taught journalism and media law at the University of Hong Kong. She speaks Mandarin and has accumulated more than a decade's experience living, studying and working in China.