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

April 1998

Andre Lee - Building the business at Peregrine



Peregrine's last days, by Andre Lee
Early life
First start in investment banking
Pioneering the Asian bond business
Leaving Lehman
The politics of Peregrine
The approach of the Asian financial crisis

Presumably it was some time before you were actually printing any business at Peregrine.

The break-through point didn't really come until December 1994 when we had a first beach meeting and I sat down and told people: "Look, we've been given a great responsibility, we said we could deliver certain things, we are having a hard time right now, business isn't happening as we expected. If we don't deliver the goods in the next 12 months we have to reason with each other right now and say that maybe we won't have a job any more, so we've really got to get on the right track quickly."

It was my way of trying to motivate people, in saying that...


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