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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January 2000

Citigroup's confused chemistry


When Citibank and the Travelers Group merged, the hype was about cross-selling retail products. Citi's distribution network and Travelers' products would be a potent combination, claimed Sandy Weill and John Reed. The investment banking brew had less to offer and was expected to be more troublesome. But so far it isn't working out like that. The investment bank is the success story. Meanwhile, cross-selling isn't working. Antony Currie reports


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