China’s Super-Regulator Can’t Kill Shadow Banking

Tackling risks in China’s labyrinthine financial system is often compared with a game of whack-a-mole: knock down one risk and another pops up somewhere else.

It doesn’t help when no one has a very big hammer or reliable mole data.

China’s fragmented financial regulatory apparatus has been one reason for the nation’s rapid, dangerous buildup... Nguồn: www.wsj.com