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    • Member Info
      • Native Language:
      • Turkish
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      • Turkey
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      • Turkey

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    #1

    Lightbulb black market lending...

    ...some trends in the Chinese economic miracle may not continue at the
    same pace. China’s banking system suffers from the same distortions of
    state manipulation. Some state- owned banks are recycling their allocations
    of credit into black market lending at usurious and unsustainable
    interest rates...
    source: Al Gore The Future
    Could you please paraphrase or explain the meaning of the sentence in bold in plain English?
    Thanks in advance

  1. charliedeut's Avatar
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    #2

    Re: black market lending...

    It truly sounds like Chinese to me...
    Please be aware that I'm neither a native English speaker nor a teacher.

  2. probus's Avatar
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    #3
    As seen by the new android app there is no bold face in your post. I'll assume from the post's title that you are asking about the phrase black market lending. A black market is one that the state officially disapproves of. The phrase means that the banks are making loans that the government would not allow if it was aware of them.

  3. emsr2d2's Avatar
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    #4

    Re: black market lending...

    If it helps, probus, this was all in bold: "Some state-owned banks are recycling their allocations of credit into black market lending at usurious and unsustainable interest rates".

    Remember - if you don't use correct capitalisation, punctuation and spacing, anything you write will be incorrect.

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