Small Debts, Big Problems
Behind the 11th-hour suspension of fintech giant Ant Group’s IPO is a worry that unregulated microlending is a risk to the Chinese financial system.
Qilai Shen/Bloomberg/Getty Images
Following the sudden suspension of Ant Group's record-breaking IPO, my colleague Peter Guest and I reported on the decade-long buildup of an unregulated microlending industry and how that has led many Chinese people into debt spirals. You can read it here in Rest of World.