J.D

Anecdotal Evidence of Risks in China's Banking System

Very interesting. I presume this is what you mean, the "instantaneous forward" inversion is very obvious:
www.ecb.eu/stats/money...

Any downturn will surely reveal numerous skeletons in the Chinese banking system. Was it ever really fixed? davidinchina's scenario looks very likely, and likely to continue irrespective of whatever quotas/controls are put in place as long as its generating a positive current return.