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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?

May 1997

Japan's coming merger boom



Almost no-one outside Japan has noticed, but an unprecedented wave of mergers in the financial sector is about to hit the headlines.

The problems are simply stated: Japan has too many financial institutions, which make too little profit, have lots of bad debt (mostly unrealized), and which are...


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