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[Anjani Trivedi] China spins a trade-deal trap in bad debt market
[Anjani Trivedi] China spins a trade-deal trap in bad debt market
ViewpointsJan 20, 2020
China is opening the deepest, darkest corner of its strained financial system to American financial institutions. It’s not clear why investors would want to go there, even with their eyes wide open.As part of President Donald Trump’s “phase one” trade deal, China will allow US institutions to apply for asset management company licenses (beginning with the provinces), permitting them to acquire non-performing loans directly from Chinese banks. Previously, foreign investors