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Rise of shadow industries in Singapore

One of the main worries over a slowing Chinese economy is the proliferation of its shadow banking industry, where non-bank lenders such as hedge funds and special investment vehicles grant loans to companies without regulatory oversight. It is feared that hidden debt levels and unrestrained risk taking may trigger a far-reaching crisis in a severe slowdown. In Singapore, two forms of unregulated shadow industries are thriving as well, one also related to alternative lending and the other of a very different kind. And we saw these past two weeks how both government action and inaction could fuel their growth further….