China’s Very Bad Bank: Inside the Huarong Debt Debacle
- Huarong’s troubles raise questions about government support
- The distressed debt manager borrowed $23.2 billion overseas
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It’s been 11 weeks since Lai Xiaomin, the man once known as the God of Wealth, was executed on a cold Friday morning in the Chinese city of Tianjin.
But his shadow still hangs over one of the most dramatic corruption stories ever to come out of China – a tale that has now set nerves on edge around the financial world.