Just a minor tick down in Chinese growth has exposed businessmen in the enterprise hub of...

|By:, SA News Editor

Just a minor tick down in Chinese growth has exposed businessmen in the enterprise hub of Wenzhou who took out underground loans at usurious rates. Unable to pay their debts and wanting to avoid the brass knuckle treatment, many are closing up shop overnight and fleeing. Hoping to calm things, PM Jiabao visited last week, promising easier credit and a crackdown on loan sharks. (also)