The truth about Asian investment banking
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?

March 2003

TAP: reasons to be cheerful



Few people would want Michael Conolly's job. As the chief financial officer of Portugal's state-owned carrier TAP, he faces all the problems his airline peers are struggling with, plus a few that are specific to his own company. In particular, TAP counts Brazil and Venezuela among its major routes, and they are not the most economically stable of countries. On top of that, in the midst of tough ...


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