As evidence of overwhelming amounts of bad debt grows, it's useful to know this isn't China's first rodeo. The country's banking system collapsed in the 90s, forcing Beijing to remove the bad assets from bank balance sheets and set negligible deposit rates to finance recapitalization. The cost of the operation was ultimately born by consumers, who will likely be holding the bag this time around as well.
As evidence of overwhelming amounts of bad debt grows, it's useful to know this isn't China's...
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