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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?

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August 2009

FX: Lucky Herbert


This story was first published on theweeklyFiX, for more details please click here

Kai ‘Lucky’ Herbert, who left Bank of America in January 2008 to join Merrill Lynch, has decided to seek his fortune elsewhere. He is off to Zurich to trade emerging market currencies for UBS.


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