I think the parallel is not exploitative pay day loans but the western credit card. China is not as developed as the west when it comes to trust and identity. T

I think the parallel is not exploitative pay day loans but the western credit card. China is not as developed as the west when it comes to trust and identity. This causes credit mostly to be given to a few well established and well connected identities. And leaves China with a high savings rate. Changing that will unlock further growth and spread of wealth.