A China bank contagion could blow up global markets

If the dark predictions are going to come true — that the market turmoil out of China will lead to "another 2008" — it will have to be a very different kind of crisis than the original. 

Six months after sell-offs in Shanghai began to reverberate through markets worldwide, bond-rating agencies continue to rate Chinese banks' credit as investment grade, suggesting that if China does lead the world into recession, it will be a different affair than the sudden, sharp downturn catalyzed by the collapse of Lehman Bros.


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