China's Blackrock— A 3 Trillion Dollar Shadow Banking Industry Is Failing
August 19, 2023
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China Insider with David Zhang Episodes Around August 19, 2023
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9:54China is Becoming North Korea | Cultural Revolution 2.0 | Elite Politics
14:46Now PlayingChina's Blackrock— A 3 Trillion Dollar Shadow Banking Industry Is Failing
YouTube Description
as posted by the channelChina's trust industry is like the Blackrock or Vanguard of China. It is called the shadow banking industry. It runs a 3 trillion USD business catering to the ultra-rich. Now, one of the biggest firms, Zhongrong failed to make payments.
As it is tied to real estate, we will also discuss how Evergrande, filing for Chapter 15 bankruptcy in the US fits into all this.
#evergrande #bankruptcy #china
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