Too big, too Leninist – a China crisis is a matter of time

Xi Jinping, recently granted the title of “core leader” of China, is a man with two missions. The first is to purge the Chinese Communist party of corruption. The second is to reform the economy. These goals will, however, prove incompatible if he continues to focus his main efforts on purifying and strengthening the corrupted […]

China’s Banks Are Hiding More Than $2 Trillion in Loans

In 2014, the Chinese city of Haimen on the mouth of the Yangtze River set out to build a large apartment complex and turned to Bank of Nanjing Co. for about $29 million in financing. The bank was happy to oblige but it didn’t call the money a loan, according to people familiar with the […]

UK approves Chinese-backed nuclear plant, sets tighter control

Britain gave the go-ahead for a $24 billion nuclear power plant on Thursday, ending weeks of uncertainty that had strained ties with China, which will help pay for it, and France, which will build it. Prime Minister Theresa May’s government signaled it would take a more cautious approach in future over foreign investment in big […]