Business
The woes of China’s ‘bad bank’ point to deeper problems – Sydney Morning Herald
The ongoing problems with state-controlled Huarong are exposing the serious fault lines within China’s economy and financial system.
If the problems within the bad debt managers were confined to them Beijing might have been able to deal with them more easily.
They arent, indeed they are reflective of a far wider issue of poor lending and too much debt within Chinas corporate and local government sectors, a problem exacerbated by the pandemic.
Chinas overall debt levels blew out during the pandemic as, like most governments, it injected massive doses of stimulus into its economy. In Chinas case, as it traditionally has done, it…
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