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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

Alan Smith is back



When Alan Smith returned to work he took no chances. The former head of Jardine Fleming finished his six months of gardening leave on April 1. Not wanting to look a fool he started a week later.

It is a welcome return for Smith, one of Hong Kong's most experienced bankers and dealmakers, who has assumed the role of Credit Suisse First Boston's vice-chairman in Asia. Smith left Jardine Fleming after...


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