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China's US$600b subprime mortgage crisis is already here

Including "special-mention" loans, the industry's total troubled advances swelled to 4.2t yuan last December


SORRY, Kyle Bass, you're a bit late to the game. The debt problem in China has already reached the proportions of the US subprime mortgage debacle. Don't worry, though: Chinese authorities are on the case - discussing reducing the required coverage for bad loans so that banks...

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