Monday, Jun 25, 2007
Great Depression fall looms
SMH: A Beijing sale ... some 40 per cent of China's state-owned enterprises are losing money, exposing the banks to likely stress.
The BIS said China may have repeated the disastrous errors made by Japan in the 1980s when Tokyo let rip with excess liquidity. "The Chinese economy seems to be demonstrating very similar, disquieting symptoms," it said, citing ballooning credit, an asset boom and "massive investments" in heavy industry.Some 40 per cent of China's state-owned enterprises are losing money, exposing the banking system to likely stress in a downturn.
Posted by wrinkles @ 11:12 PM (135 views) Add Comment
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