Short seller warns of bad debts in Chinese banks

05/20/2013 | Caijing Magazine online

The risk posed by the high level of bad debts in China's banking system exceeds that facing Western banks just before the 2008 financial meltdown, according to Carson Block, founder of short seller Muddy Water Research. State ownership means the Chinese government is likely to back up the banks, leading to dire complications for the nation's economy, Block says.

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