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Shadow banking not so dark [Commentary]
Shadow banking not so dark [Commentary]

The World Economic Forum in Davos, Switzerland gave us an excellent window into the concerns that world leaders have about the global economy — particularly China's shadow banking system. But while the concerns may be legitimate, the expressed fear — that China will implode from the weight of the system's problems — appears overblown. Although ominous sounding, shadow banking exists in every country. In fact, the more thriving and capitalist a country's economy, the more thriving its shadow banking system typically is. What exactly is it? It is the totality of financial entities that don't fall under direct bank regulation. So, for example, if you...

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