What Actually Went Wrong with China’s P2P Lending Economy

The P2P lending economy of China was hailed as being one of the best things that ever happened to the economy as investment options diversified, and loans were made available for even those who couldn’t afford what the major banks were offering. The prospect of lending beyond the borders and strict constraints of banking regulations had the P2P market booming like never before, with over 3,383 platforms emerging in the landscape over the course of 10 years.

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