Will China’s financial bust ever come?
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Credit booms often end badly, and China is in the grip of a major one. China’s reading is the nation’s highest on record in a credit gauge released by the Bank for International Settlements (BIS). It’s the single most reliable indicator of looming financial crises, according to the BIS, which found in a 2011 analysis of 36 countries that a majority of banking crises followed readings higher than 10%.