Asia could be barreling toward a financial crisis

Asia could be walking into a financial disaster.
Rising debt, real estate getting bubbly, and threats to growth all threaten the possibility of a credit crunch, leading to a financial crisis throughout the region.
Private credit has exploded across the region and has reached nearly 140% of GDP, according to the latest presentation by Rob Subbaraman, chief economist at Nomura. That compares with an average of 77.2% for emerging markets.
It's especially worrisome in China, where the