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China's Great Wall of Debt: can it afford a default?
Lai Xiaomin's once-glittering career ended not with the popping of champagne corks and glowing testimonials, but at the hands of an executioner. Once known as the God of Wealth, Lai oversaw one of China's biggest and most important state-owned enterprises, Huarong Asset Management. But he died stripped of his enormous power and wealth on a bleak Friday morning in late January in Tianjin, most likely via a lethal concoction of drugs. Accused of bribery, embezzlement and bigamy, the 58-year-old's unseemly end followed three years of investigations and came just three weeks after the High People's Court dismissed his ... (full story)