In China’s debt?
Last week, I blogged briefly about a report by Ernst & Young on China's looming bad loan problem. It painted a grim picture of China's banking system, which is lending too much and collecting too little. For its part, the People's Bank of China trashed the report, calling it "ridiculous and barely understandable." Now, Ernst ...
Last week, I blogged briefly about a report by Ernst & Young on China's looming bad loan problem. It painted a grim picture of China's banking system, which is lending too much and collecting too little. For its part, the People's Bank of China trashed the report, calling it "ridiculous and barely understandable." Now, Ernst & Young has withdrawn it, claiming it was not properly reviewed. It's a bizarre sequence of events, to say the least, and I can't help wondering what kind of pressure China brought to bear on Ernst & Young.
Last week, I blogged briefly about a report by Ernst & Young on China's looming bad loan problem. It painted a grim picture of China's banking system, which is lending too much and collecting too little. For its part, the People's Bank of China trashed the report, calling it "ridiculous and barely understandable." Now, Ernst & Young has withdrawn it, claiming it was not properly reviewed. It's a bizarre sequence of events, to say the least, and I can't help wondering what kind of pressure China brought to bear on Ernst & Young.
David Bosco is a professor at Indiana University’s Hamilton Lugar School of Global and International Studies. He is the author of The Poseidon Project: The Struggle to Govern the World’s Oceans. Twitter: @multilateralist
More from Foreign Policy

No, the World Is Not Multipolar
The idea of emerging power centers is popular but wrong—and could lead to serious policy mistakes.

America Prepares for a Pacific War With China It Doesn’t Want
Embedded with U.S. forces in the Pacific, I saw the dilemmas of deterrence firsthand.

America Can’t Stop China’s Rise
And it should stop trying.

The Morality of Ukraine’s War Is Very Murky
The ethical calculations are less clear than you might think.