Chinese microlending is getting weird and dangerous
Every app now wants to lend you money. It's driving some users into debt and foreshadows a broader crackdown.
Image: hudiemm/Getty Images
These days, seemingly every Chinese app, whatever its original purpose, pushes to lend users money. "I have 32 apps on my phone. Probably 30 of them have turned into microlending apps," wrote one Weibo user.
I reported for Protocol | China.