Source: China – South China Morning PostUS President Donald Trump’s call for American credit card interest rates to be capped at 10 per cent for a year has sparked a debate in China about whether Beijing should impose a similar limit on online loans.
The discussion comes as many in China – especially younger people – are being enticed by credit offers amid a weak job market and a boom in online loan services.
“Apps now keep luring young people into borrowing,” a finance blogger with nearly 500,000 followers wrote in a social media…Read More