Lending Crisis Stokes Fears of ‘China Economic Model’ Collapse

China’s distorted economic model is to blame for the lending crisis faced by privately owned businesses that has hit several Chinese cities.
Lending Crisis Stokes Fears of ‘China Economic Model’ Collapse
A distorted economy has given rise to a private lending crisis in several cities in China. Chinese blackmarket moneychangers trade foreign currency for renminbi (yuan) with two customers (R) outside a branch of the Bank of China in Shanghai, Feb. 7, 2007. AFP/Getty Images
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<a><img src="https://www.theepochtimes.com/assets/uploads/2015/09/73237064_Blackmarket_MoneyExchanger.jpg" alt="A distorted economy has given rise to a private lending crisis in several cities in China. Chinese blackmarket moneychangers trade foreign currency for renminbi (yuan) with two customers (R) outside a branch of the Bank of China in Shanghai, Feb. 7, 2007. (AFP/Getty Images)" title="A distorted economy has given rise to a private lending crisis in several cities in China. Chinese blackmarket moneychangers trade foreign currency for renminbi (yuan) with two customers (R) outside a branch of the Bank of China in Shanghai, Feb. 7, 2007. (AFP/Getty Images)" width="320" class="size-medium wp-image-1795895"/></a>
A distorted economy has given rise to a private lending crisis in several cities in China. Chinese blackmarket moneychangers trade foreign currency for renminbi (yuan) with two customers (R) outside a branch of the Bank of China in Shanghai, Feb. 7, 2007. (AFP/Getty Images)
Jane Lin
Jane Lin
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