China’s $1.7 trillion hangover

China’s $1.7 trillion hangover

Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?

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September 2003

Taint of controversy



An embarrassing and potentially damaging controversy is emerging in Islamic equity funds. Because of the way the vast majority have been handled by mainstream brokers, many may not be as Shariah-compliant as investing customers would expect.
Many Islamic equity funds are managed by conventional asset managers that may operate a large number of funds, of which only a few are marketed as Shariah-compliant. There will be overlap between the stocks held in the Shariah-compliant funds and the other funds.

If the fund...


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