Thus, they stand to be lucrative for issuers and relatively inexpensive for consumers, a fact made particularly important given that prepaid cards can provide the exact same services to consumers as regular checking accounts, with the lone exception of physical check writing capabilities.

FORBES: Why You Will Soon Cut Up Your Debit Card

This will involve a full credit check by the lender and confirm in writing how much they are prepared to lend to you, subject to them checking the information you have given to them.

BBC: Mortgages explained for first-time buyers

Harris, who is also an author of the China Law Blog says American companies will have to perform better due diligence, including checking out potential suppliers before doing business with them, examining goods before they leave the factory and getting solid contracts in writing.

FORBES: Toying With China