China's shadow banking sector is exploding in size

AP / Hassan Ammar China is unstoppable. GDP growth hassloweddownto 6.9%, according to official numbers. The numbers are likely inflated, but the boom is still underway. Reasonable estimates from knowledgeable observers still have China growing at 4–5%, which is rather remarkable given China’s size. However,the problem lies in the debt that is fueling the growth. Chinese shadow banking has skyrocketed Ambrose Evans-Pritchard reported some shocking numbers in his July 17Telegraphcolumn. A repo...