The huge and growing subprime debt time-bomb sitting inside China’s banks – Quartz

The huge and growing subprime debt time-bomb sitting inside China’s banks – Quartz

 China’s banks have not done too well in the past couple of years, due to a Chinese economic slowdown and fears about rising bad debts. But on Oct. 30 ICBC, China’s biggest bank, reported profits that came in ahead of investors’ expectations. Some analysts smell a change in the wind. China’s massive, state-owned banks, Macquarie’s Victor Wang suggested in a note to clients, have turned a corner. “We do not need to be super bearish for these money-making machines,” he said.

PRINT MORE MONEY!