Opinion: China’s plan to let banks swap bad debt for equity won’t help address the most significant sources of the problem
The debt-for-equity swap program, described by officials as restricted to firms with long-term potential and short-term difficulties, fails to address the bulk of the bad loans and "points to a stark disconnect between what policy makers want, and what pillars of the financial system such as the state-controlled banks are actually able to deal with," writes Anjani Trivedi.
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May 26, 2017