"Wealth management products" in China - long on promised returns, short on details - are showing cracks, and given the mammoth size of the industry ($3.5T may be issued this year), it could have ramifications for the banking system and the global economy. "This is not fundamentally different from a Ponzi scheme," says BAML's David Cui.
"Wealth management products" in China - long on promised returns, short on details - are showing...
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