The Chinese financial crisis that no one talks about

The Chinese financial crisis that no one talks about

Economists have been wondering for months whether China’s real estate collapse would trigger a financial crisis. So far the consensus has been no. But perhaps the financial crisis has been there all along, before our eyes.

The answer depends on how you define the terms “financial,” “crisis,” and “financial crisis.” Conversations about financial crises in China or elsewhere typically focus on banks or overtly banking institutions as the heart of the financial system. We care about their plight because these companies are particularly exposed to economic headwinds and are also particularly capable of collapsing on the rest of the economy. But there are many companies that you wouldn’t call a bank that operate as one bank, particularly in China.

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With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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