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?

The money network:

The money network:

Why crowdfunding threatens traditional bank lending

September 2003

Russians find joys in junk

by Ben Aris


Junk mail drives most westerners mad. But if a Russian gets a personally addressed letter on his birthday offering a tempting gift at half price he might be so pleased he will include a thank-you note with his order.

Pascal Clement, a 33-year-old Frenchman, set up PPE in his bedroom in 1996 and nurtured it into the $120 million a year powerhouse that today dominates...


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