China’s Problem of Private Lending
Recently, Xu Huocong, a Fujian province business owner who was said to owe 300 million yuan ($46 million) to private lenders disappeared. At the same time, another man named Hu Fulin, chairman of Zhejiang Center Group, one of China’s biggest manufacturers of eyeglasses, ran away to the United States after having as much as 2 [...]
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