Charlene Chu, the senior director of Fitch Ratings, announced her resignation from the credit rating agency, Financial Times reported. Her departure ends an eight-year spell as a thorn in the side of the Chinese banking industry. Ms Chu is perhaps best understood outside Asia as the Chinese banking equivalent of Meredith Whitney, the US financial analyst famous for her bearish calls on US banks made in the run-up to the financial crisis. Ms Chu was one of the first to highlight the dangers of both shadow banking and China’s mammoth stimulus plan, rolled out in early 2009 in response to a collapse in global trade.
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