Shoppers in a mall in Shenyang, in northeast China's Liaoning province, on March 22. Chinese consumers are facing a real stress test in 2020. Photo: Xinhua
Opinion
Opinion
The View
Trade war and the coronavirus will bring China’s quietly raging consumer debt crisis to a head
- Online lenders and other more traditional nonbank players are sinking further into trouble as a weakening Chinese economy takes its toll
- Given China’s weak legal infrastructure and the government’s populist bent, expect the fallout to hurt banks and destroy many nonbank financial institutions
Shoppers in a mall in Shenyang, in northeast China's Liaoning province, on March 22. Chinese consumers are facing a real stress test in 2020. Photo: Xinhua