By Grady Mcgregor
SinoInsider, a U.S.-based risk consultancy, concurs. The group wrote last week that the problems in Henan are just the “tip of the iceberg of serious systemic and financial risks with small- and medium-sized banks in China.”
SinoInsider explained that other banks could soon face “similar problems” due to the “financial contagion from Evergrande’s debt crisis.”