A Major Financial Crisis Is Brewing in China

BEIJING â?? The US Federal Reserveâ??s decision to exit from so-called â??quantitative easingâ? â?? its massive monthly purchases of long-term assets â?? is stoking fears of a hard economic landing in China. But Chinaâ??s strong economic fundamentals mean that policymakers have the space to avoid such an outcome â?? as long as they bring the countryâ??s shadow banking system under control.