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Charlie The Tramp Returns

China's Banks Are An Accident Waiting To Happen

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Fitch Ratings has been warning for some time that China's lenders are wading into dangerous water
A growing number of experts are casting doubt on China's ability to pull the global economy from recession

China's banks are veering out of control. The half-reformed economy of the People's Republic cannot absorb the $1,000bn (£600bn) blitz of new lending issued since December.

Money is leaking instead into Shanghai's stock casino, or being used to keep bankrupt builders on life support. It is doing very little to help lift the world economy out of slump.

Accident Waiting To Happen

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Fitch's "macro-prudential risk" indicator for China threatens to jump from category 1 (safe) to category 3 (Iceland, et al).
Over half the new debt is short-term. Roll-over risk is rocketing.

:o

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