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China Credit close to averting default on troubled product

But a financial meltdown still looms over China's banking system
Tuesday, January 28, 2014 - 06:00

CHINA is close to averting a crisis over the default of a big shadow-banking product, which would have been the industry's first such default, with an announcement yesterday that an agreement is just around the corner. Still, the spectre of a US-styled financial meltdown looms large over the

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