China’s banks face cash crunch fears after authorities seize lender

[dang]

https://news.ycombinator.com/item?id=20315086

[ohiovr]

Different source

[youeeeeeediot]

China needs to adjust their official target of 6-6.5% GDP growth per year - it is completely unsustainable and has caused far too many risks to be taken in order to maintain it.

Unless they want the bubble to pop? I can't imagine the social upheaval it would cause there (and throughout the rest of the world)

[jorblumesea]

Implying that China is correctly reporting their true GDP. Given how opaque their system is in general, it's hard to trust any official sources. It's likely they are ~2% lower than officially reported already.

https://www.ft.com/content/961b4b32-3fce-11e9-b896-fe36ec32a...

[outside1234]

When China blows up it is going to be truly spectacular: it is going to be a depression on top of a civil war on top of a movement for democracy.

[pxue]

I predict mass real estate sell off in every major city around the world. Millenials world wide collectively let's out a sigh of relief.

[baq]

remember tiananmen? couple thousand people run over by tanks is a price worth paying for that government.

[supertiger]

don't hold your breath