China's Bear Stearns moment

The last-minute rescue of a three-billion-yuan trust product in China bears an eerie similarity to the Bear Stearns bailout. Investors have been spared the pain of a drastic haircut for now but the question of moral hazard remains.

Graph for China's Bear Stearns moment

Local residents wait outside a branch of the Industrial and Commercial Bank of China (ICBC), in Beijing.

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