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Credit Tightening Threatens China's 'Giant Ponzi Scheme'

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CHINA SYNDROME
Ambrose Evans-Pritchard, writing in the Telegraph, tracks down former Morgan Stanley economist Andy Xie to put China's "boom" in perspective: "Andy Xie, a leading consultant, said China's boom was a "giant Ponzi scheme" that was likely to "bring very bad consequences" for the country."
SOURCE:   Telegraph (UK)

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