Daiwa Capital Markets economist Kevin Lai slashed his end-2016 target for the yuan from 6.83 to 7.50 against the US dollar. Photo: K.Y. Cheng

Daiwa analyst known as 'Yuan Bear' warns of financial crisis in China

True level of overseas debt raised by mainland entities closer to three times that of the official US$1tr figure, says bearish Daiwa economist

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Daiwa Capital Markets economist Kevin Lai slashed his end-2016 target for the yuan from 6.83 to 7.50 against the US dollar. Photo: K.Y. Cheng
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