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Failures in China's banking system as seen by two bankers Walter and Howie. The risks to the Chinese economy of real debt to GDP ratios that are upwards of 80% of GDP when local government and other debt that would end up as sovereign debt is taken into account. The inability of the system in China to control lending to state enterprises and local government.
China's financial system: Look again
Economist 12/11/2010
Beijing's Financial Day of Reckoning Is Near
Wall Street Journal 06/21/2011
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