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Excerpt from Bloomberg -- "I worry a lot about the Chinese banks. ... The capital needs of Chinese state-owned banks have been increasing very steadily since the financial crisis. China is loaded with debt. It's being issued back and forth between the banks and state-owned enterprises and the municipal governments and many of these are not very credit worthy anymore. Yet everything is guaranteed by the government. So, the banks don't see it as a big risk, but the stock market doesn't see the banks as that good of an investment."

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Additional coverage appeared on Yahoo! Finance.