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The Economist.

From The Economist in London, this is Money Talks, a weekly program about news in the world of business

finance and economics I'm Edward McBride the finance editor on today's show

we'll discuss the 8 billion dollar Ponzi scheme that has built 900,000 Chinese investors and the relentless

spread of negative interest rates around the globe.

Here with me to discuss these topics are James Miles, our China editor, and John O'Sullivan are economics editor.

James let's start with you.

Eisibau, a Chinese peer-to-peer landing company, has been accused of building its customers in a Ponzi scheme.

That's to say, instead of using money deposited with

it to make genuine investments that earn a return, it's instead been paying old investors

back with the money deposited by new investors.

This sort of scam is distressingly common in China, isn't it?

Well scams like this, yes, have been bubbling up pretty often over the years. This one however is exceptionally large as you say

900,000 investors scammed and a total of 7 billion US dollars or more gone missing from this firm.

...