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May 11, 2012

China's Big Banks Looking Like Paper Tigers

Jonathan Weil, Bloomberg

AP Photo

After spending time combing through the financial reports of China’s biggest publicly traded, state- owned banks, I now understand what Jim Chanos, the famous short- seller, means when he keeps saying they are “built on quicksand.” He’s definitely on to something.

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TAGGED: China, Industrial & Commercial Bank of China, ICBC

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