China banking crisis ‘almost certain’

Gabriel Stein, of economic consulting firm Oxford Economics, told Sydney audience on Tuesday that Chinese authorities were understating the extent of bad loans on their banks’ books and faced tough choices in dealing with the potential bank failure. "We don’t know when there will be a China banking crisis and how it will play out but it is almost certain there will one," said Mr Stein, a professor at the University of London who served as chief economist at consulting firm Lombard Street from 1991 to 2012. "We do think the financial risks are high.

Read more here: SMH

    

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