World | Business | Economy

China's Credit Crunch Felt Across Financial Markets

NPR | June 21, 2013 1:40 a.m. | Updated: June 21, 2013 6:13 a.m.

Contributed By:

Renee Montagne, Frank Langfitt

The lending rate between Chinese banks spiked dramatically on Thursday, creating a credit crunch. Renee Montagne talks to NPR Shanghai correspondent Frank Langfitt about the turbulence in China’s banking system, and how authorities in Beijing are responding.

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