China’s Credit Crunch—and Prospects for a Crash | World Affairs Journal John-Paul Smith, who predicted the 1998 Russian stock market collapse, sees China’s equity markets tanking soon. “There is potential for a debt trap in industrial companies which can trigger an economy-wide financial crisis as early as next year,” said Smith, now a strategist at Deutsche Bank, in an interview this month. China today, Smith says, resembles Russia before its markets flopped 15 years ago. via China’s Credit Crunch—and Prospects for a Crash | World Affairs Journal.
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