Had not realised the UK was so exposed to China's debt.
http://qz.com/192273/if-chinas-econo...k/#/h/56751,2/
http://qz.com/192273/if-chinas-econo...k/#/h/56751,2/
As concerns mount about the health of China’s economy, and particularly the possibility of a property bubble bursting and a sharp rise in bad loans, who is going to be left holding bad debt has become a looming question.
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While China’s own state-run banks provide much of the liquidity for the country’s businesses, foreign banks have stepped up lending to China as well in recent years. They now have over $1 trillion in loans outstanding to China’s public and private companies, according to data from Switzerland’s Bank for International Settlements (BIS), which advises central banks. Of these, Hong Kong’s banks remain the most exposed to China, as Quartz recently reported, with about $446 billion (Table 3.11.3) in loans outstanding to Chinese companies and banks as of this month.
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After Hong Kong, the UK takes the lead by far. (As a note, banks in several countries, particularly in emerging markets like Russia or Latin America, aren’t listed, because they don’t report to the Bank for International Settlements):
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While China’s own state-run banks provide much of the liquidity for the country’s businesses, foreign banks have stepped up lending to China as well in recent years. They now have over $1 trillion in loans outstanding to China’s public and private companies, according to data from Switzerland’s Bank for International Settlements (BIS), which advises central banks. Of these, Hong Kong’s banks remain the most exposed to China, as Quartz recently reported, with about $446 billion (Table 3.11.3) in loans outstanding to Chinese companies and banks as of this month.
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After Hong Kong, the UK takes the lead by far. (As a note, banks in several countries, particularly in emerging markets like Russia or Latin America, aren’t listed, because they don’t report to the Bank for International Settlements):
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