“China facing full-blown banking crisis, world’s top financial watchdog warns”

“A key gauge of credit vulnerability is now three times over the danger threshold and has continued to deteriorate… The Bank for International Settlements warned in its quarterly report that China’s “credit to GDP gap” has reached 30.1… any score above ten requires careful monitoring…

China’s total credit reached 255pc of GDP at the end of last year… This is an extremely high level for a developing economy and is still rising fast… Outstanding loans have reached $28 trillion, as much as the commercial banking systems of the US and Japan combined…”

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