Billionaire
investor George Soros said China has a “couple of years” to control
risks from nontraditional financing whose expansion has parallels with
the cause of the global financial crisis.“The rapid growth of shadow banking has some disturbing similarities with the subprime-mortgage market in the U.S. that caused the financial crisis of 2007-2008,” Soros said today in a speech at the Boao Forum for Asia in China. “I’m sure the authorities are aware of the dangers. They have both the skills and the resources to deflate an incipient bubble gradually.”
Continue Reading at Bloomberg.com…
Please share this article
No comments:
Post a Comment