The world is recovering with no thanks to them, they put the breaks on when things were looking bleak to try to tip the world over the edge.
Um, no, they did the same as everybody else - they printed up some $800BILLION to stimulate
No. That was during GFC part one. I'm talking about during more recent Euro crises and US impas . China put the breaks on as soon as they new they were OK for the moment.
Ok so with the latest China data can we agree that a soft landing has been achieved and that the China Bull is ready to run again?
Xi and his team are inheriting an economy more leveraged than the one President Hu Jintao took over in 2003. Government, corporate and consumer debt rose last year by 15 percentage points to an estimated 206 percent of GDP, Standard Chartered said in a November report. In March 2003 it stood at 150 percent.
Borrowers are using some new loans to “plaster over non-performing credits” while so-called shadow banking is growing too fast, said economists led by Stephen Green. They estimated that a bad-loan ratio of 12 percent would erase the banking industry’s 7.5 trillion yuan ($1.2 trillion) in capital.
Lending by so-called trust companies surged five times to 1.04 trillion yuan in the first 11 months compared with the whole of 2011. A “large part” of the sector’s lending is to higher-risk entities including local government investment vehicles and property developers that don’t have access to bank loans, the International Monetary Fund said in its Global Financial Stability Report in October.
‘Extremely Reluctant’
“Lots and lots of projects have been approved to stimulate this economy,” said Patrick Chovanec, an associate professor at Tsinghua University in Beijing. “The banks are extremely reluctant to lend to them and that says a lot about what they really know about credit risk in this country.”
Anyone who has ever been to China will tell you that the "bull" has a long way to go.
Industries, Communist officials, Provinces and Governors have their necks on it's continuance.
It is even a threat to the Communist Cadres at the top.
They cannot stop it.
They will be necked.
The genie is out.
gg
Its particularly bad this year actually. We are living part time near Taiyuan, one of the worst cities. Luckily we live up in the mountains about 40 km north. The air quality here is very good, clear and fresh. The city is very bad though. From the aircraft it looks like a big brown cloud. Also, when we live down south at our home there, we live about 60 km outside Shanghai, so the air quality is much better. Occasionally we get an auto exhaust odor.
The worst is the north in Winter....but its the best in the summer. The communal heating is all coal fired. Its warm inside, but at a cost.
CanOz
Tell that to the grandson or daughter of a peasant toiling and starving in a paddy field 50 years ago under Mao.
Memories are better for survivors.
It will continue imo.
gg
What, you mean my wife?
China plans major bond market reform to raise the money the ruling Communist Party needs for a 40 trillion yuan ($6.4 trillion) urbanization program to buoy economic growth and close a chasm between the country's urban rich and rural poor.
"The focus should not just be on construction. They should also focus on creating a market," the diplomat said. "If they fail to create a market, they will end up with an urban poor much worse off than the rural poor."
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