NY fines China’s AgBank $215m over money laundering violations 1 month agoBy Lucas Niewenhuis The fine against the world’s sixth-largest bank by market share is the first levied on a major Asian bank outside of Japan. By Lucas NiewenhuisGet daily news to your inbox Subscribe China in 2 minutes a day Top news and analysis delivered to your inbox Subscribe See example newsletterMore from SupChina Our Podcast SinicaBeijing Meets Banjo: Wu Fei and Abigail WashburnTwo musicians find great harmony between Chinese and American folk music. http://supchina.com/podcast-player/31124/beijing-banjo-wu-fei-and-abigail-washburn.mp3Dec 08, 2016 http://supchina.com/podcast-player/31124/beijing-banjo-wu-fei-and-abigail-washburn.mp3 FeaturedDrop the One China fiction — just not this way PhotosWednesday, December 07The Pamir mountainsDec 07, 2016Business & tech via South China Morning PostXu Xiang, the billionaire known as China's Warren Buffett, is formally arrested for insider trading and market manipulationXu Xiang, a prominent hedge-fund manager who served an elite clientele, was detained by security forces almost six months ago.Business & tech via The GuardianEconomic expert says that China has a potentially 'fatal' debt load that stood at 250 percent of GDP at the end of 2015Though China's ratio is significantly lower than the U.S.'s 331 percent, it is riskier because a larger share is held by non-financial firms, particularly state-owned companies. Business & tech via BloombergOpinion: U.S. universities rely on Chinese students to fill the financial gaps created by declining numbers of college-age Americans and cuts in government aid"When it comes to American colleges and universities, I really don’t know how many of them could survive without foreign students in general and Chinese students in particular," writes Justin Fox. "The flow of money from foreign students has become so big that it even has some impact on the overall economy."