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As Trump urges cap on credit card rates, could China follow suit for online loans? (www.scmp.com)

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US 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...

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