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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Jing Yang

Jing Yang

Jing Yang is a business reporter with the SCMP. She has four years’ experience covering companies and recently shifted her focus to markets. Jing holds bachelor of economics and master of journalism degrees and is fluent in English, Putonghua and Cantonese. She is from Guizhou province in Southwest China, a remote place famous for bizarre, breathtaking landscapes, the country’s biggest waterfall and the national wine Moutai. Always keeping an open mind, Jing would like to hear your feedback, suggestions and critiques.