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Just what the world doesn’t need—a banking panic

"It's hard to know how this is going to end"

By George Magnus  

A man looks at screens displaying financial information at the Stock Exchange in Madrid, Spain, 9th February 2016. ©Francisco Seco/AP/Press Association Images

Read more: Will China drag down the world economy?

No sooner does one financial panic wind down than another one starts, and this week started with another humdinger. We have already had three horsemen appear in the form of China’s slowdown and confused economic and financial…

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