China’s banking system is in free fall and the country’s real estate losses could hit $4 trillion, per Kyle Bass of Hayman Capital.

They keep kicking the can in that lawsuit – and they have been for 2 years. Each time that they kick the can, the costs goes up.

Just like the US…banks are stuffed with these loans. The crap has hit the fan in China.
When rates start going up again in the US…don't be shocked with bank problems.

— floridanow1 (@floridanow1) December 20, 2023

h/t Lyuseefur