Book notes: Shadow banking in China, by Andrew Sheng and Ng Chow Soon

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Andrew Sheng and Ng Chow Soon, Shadow banking in China: An opportunity for financial reform, Wiley, 2016, 288 pages

Is China at risk of a financial crisis? Many influential voices believe so, including the Bank for International Settlements, which recently warned that one of its indicators of banking risk, the credit-to-GDP gap, had now risen to over three times the level it considers a danger signal. However, the countervailing view is that the risks of a Chinese financial crisis are nonetheles

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