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China housing deal points to dangers

The convoluted financing of a housing project in China shows the deepening connections among the three worrisome areas of the country’s financial system; local-government debt, corporate borrowing and shadow banking. http://online.wsj.com/news/articles/SB10001424052702303409004579562651960170142?mod=WSJ_hp_LEFTWhatsNewsCollection&mg=reno64-wsj

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