World News@lemmy.worldEnglish · 9 months ago

China is merging hundreds of small banks to fend off financial stress

www.businessinsider.com

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China is merging hundreds of small banks to fend off financial stress

www.businessinsider.com

Lee Duna@lemmy.nz to

World News@lemmy.worldEnglish · 9 months ago

2,100 banks could be affected as China looks to curb the bad loan environment of its rural communities, Bloomberg reported.

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9 months ago
Sovereign default is a thing. It’s a short term solution that can get a country out of immediate danger, but has very negative long term effects.

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