Inferences abound about China’s recent crackdown on bribery by GSK officials who acted independently of their employer. It may well be indicative of the causes of the country’s recent banking scare. If you missed the scare, it’s because it didn’t last long since China’s central bank, only briefly, refused to play its role as lender of last resort at the end of H1 when it turned out that many of the country’s banks were overleveraged.
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