AUSTRALIA
Money & Markets
China's banking system is flashing a red warning signal
Ben Moshinsky
Sep 20, 2016, 6:40 PM
Danger sign warning Flickr/Alexander Svensson
Danger!
The amount of debt used to fuel China’s economic growth has long been a worry to global investors.
Earlier this year, George Soros said that China’s debt expansion “eerily resembles what happened during the financial crisis in the US in 2007-08, which was similarly fuelled by credit growth.”
And the warnings are getting more insistent.
The Bank for International Settlements in Basel, which is a global organisation of central banks, released data showing just how dangerous China’s debt bubble is becoming.
READ MORE: http://www.businessinsider.com.au/bank-for-international-settlements-on-chinas-banking-system-2016-9?r=UK&IR=T
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