China warns of "gray rhinos"
AP Photo/Na Son Nguyen
Chinese officials are sounding the alarm over "gray rhinos," slow-moving but obvious economic risks that are ignored until it's too late.
- Etymology: The term was first coined by Michele Wucker, an American finance strategist and author who wrote that gray rhinos are "kin to both elephant in the room and the improbable and unforeseeable black swan."
- China's fear: The country's largest state-owned newspaper last week said that financial regulators will keep a close eye on excessive financial risk, amidst an existing crackdown on some of the countries hyper-acquisitive conglomerates — like Anbang, Fosun International, HNA Group and Wanda Group.