Rise and risk of private credit

This visual is human-created, AI-aided

THIS week, the saga of Malaysian-born Patrick James enthralled readers about how the little-known businessman in the US racked up so much debt in his autoparts businesses that has now led to lenders being at risk of losing their money.

James had left for the US back in the 1980s, which is why so little is known of him here. Even in the US, he had kept a low profile.