Heard on the Street: China has a difficult history with the Mongols, but now it’s about banks rather than walls and burning arrows
China has a difficult history with the Mongols, but it used to be mostly about walls and burning arrows. These days it’s about banks.
An obscure portion of China’s short-term interbank lending market has been spooked by the takeover of a small bank in the country’s remote Inner Mongolia region by regulators on May 24. The bailout itself isn’t unusual: As Jason Bedford of UBS points out, there were at least seven other major bailouts and restructurings from 2015 to 2017. What’s different about Baoshang Bank is that it is being...
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