Are China’s Banks Next? WaPo ‘Death Penalty’ Report Rocks Chinese Financial Shares

Shares of China Merchants Bank plunged in Hong Kong and on the mainland Tuesday and it wasn't hard to trace the source of the problem. On Monday, The Washington Post detailed yet another potential flashpoint between the US and China, outlining a court order involving, apparently, Bank of Communications, Shanghai Pudong Development Bank and China Merchants Bank. Although the banks weren't named, WaPo noted that the specifics of the rulings mirrored a 2017 civil forfeiture action that found th