How property-hungry Chinese millennials and shadow banking could fuel a financial crisis

Millennials are borrowing heavily to invest in property, counting on the government to keep property prices buoyant. However, the rise of shadow banking means the government lacks the levers it has historically pulled to prevent a debt crisis Millennials are borrowing heavily to invest in property, counting on the government to keep property prices buoyant. However, the rise of shadow banking means the government lacks the levers it has historically pulled to prevent a debt crisis. Chinaࢀ™s household debt has surged again after the Covid-10 pandemic was brought under control in May, driven by bets on property prices rising ….