Soros likens China trusts to subprime

China has a narrow window to prevent its shadow banking system from imploding in a manner similar to US subprime mortgages, says George Soros.

George Soros, speaking at Davos earlier this year

George Soros says the immediate threat to financial markets remains the eurozone, but the mid-term challenge is for China to come to grips with its shadow banking system.

The statesmanlike investor, speaking at the Boao Forum for Asia, says a hard landing in the Chinese economy would force the People’s Bank of China to raise interest rates, triggering...

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