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CHINA - JULY 03: Howard Davies, director of the London School of Economics, poses for a portrait in Beijing, China, on Tuesday, July 3, 2007. Chinese banks, lacking information on borrowings and seeking short-term profits, are struggling to control loans from being illegally used for stock purchases, the former chairman of Britain's Financial Services Authority said. (Photo by Natalie Behring/Bloomberg via Getty Images)

CHINA - JULY 03:  Howard Davies, director of the London School of Economics, poses for a portrait in Beijing, China, on Tuesday, July 3, 2007. Chinese banks, lacking information on borrowings and seeking short-term profits, are struggling to control loans from being illegally used for stock purchases, the former chairman of Britain's Financial Services Authority said.  (Photo by Natalie Behring/Bloomberg via Getty Images)