‘Smoldering Bonfire’ Shows Where Kyle Bass May Be Right on China
- China’s city banks are legacy of 1990s bad-loan cleanup
- Small lenders moving quickly into opaque investments
Kyle Bass Predicts China Bank Woes
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Kyle Bass, the U.S. investor known for betting against subprime mortgages, is among famous money managers who expect turmoil in a Chinese banking industry struggling with bad loans. It’s in the least-known corners of the financial system that their predictions could start to come true.