Another prominent example is that extreme events, meaning crises, occur more often in real life than the distribution of most models assumes. But there is an even bigger threat when applying modelling techniques. The big mistake is to believe that financial risk models can ever be fully accurate or even close to it.
In 2003, that ratio in China was close to 200 percent. So high a ratio does not exist across the globe except for extremely exceptional cases. While the Chinese economy has its particularity, excessively high ratio of M2 indicates that financing relies too heavily on the banking system in the course of the economic development and thus the risk concentration is higher than desired.