Hayman’s Bass says Asian banks face increased loan losses – CNBC

(Reuters)- Kyle Bass, founder of hedge fund Hayman Capital Management, told CNBC on Tuesday that Asian banks face a sustained period of increased loan losses and that global gross domestic product growth would slow more than expected as a result. Bass said the Chinese banking sector would face losses given its rapid and aggressive growth. He cited a 400 percent increase in Chinese bank assets since 2007 amounting to $31 trillion, or 310 percent of the country’s $10 trillion of GDP.

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