Rumours of the demise of China's economy and its financial system have been grossly exaggerated over recentt years. If half of the analysis by Western governments and their 'independent' analysts were correct, China should have collapsed in a heap long before Covid 19. Instead it continues to grow and outperform the US and its allies and hold the number 2 spot in terms of purchasing parity power and the size of its economy. Sad.
Bro, these things unravel slowly. It took ten years for the US financial crisis to implode after the Asian Financial Crisis. You need to take the long view - and where things are eventually headed based on facts. Of course, nobody has a crystal ball.
Comparing the US Financial Crisis (GFC) with the state of the Chinese economy and what the Asia Sentinel suggests is an impending crisis for China's banks is like comparing chalk with cheese.
What occurred during the GFC if you want facts, was the accumulation of a series of frauds aided and abetted by US government negligence and a sector out of control.
Because a number of Chinese banks have 'disappeared' (a very 'technical' term) it does not mean they are insolvent. Banks are at any given time in their life cycle potentially insolvent or likely to become insolvent because bank by nature are highly geared. They are necessarily so because they are financial intermediaries and as such often subjected to the vagaries f interest rate changes and changes in the economy not just domestically but also the worldeconomy.
China has a strong regulatory system and because of it sheer size some elements of the system fall through the cracks and they suffer the consequences which also flows on to the economy. But by comparison with the US created GFC it is nothing.
In the case of the US the regulator knew what was happening but were encouraged to ignore it in order to distract the population from that illegal war in Irak and Afghanistan.
They can reclaim funds through @ chainabusealert asset recovery firm
Rumours of the demise of China's economy and its financial system have been grossly exaggerated over recentt years. If half of the analysis by Western governments and their 'independent' analysts were correct, China should have collapsed in a heap long before Covid 19. Instead it continues to grow and outperform the US and its allies and hold the number 2 spot in terms of purchasing parity power and the size of its economy. Sad.
Bro, these things unravel slowly. It took ten years for the US financial crisis to implode after the Asian Financial Crisis. You need to take the long view - and where things are eventually headed based on facts. Of course, nobody has a crystal ball.
Comparing the US Financial Crisis (GFC) with the state of the Chinese economy and what the Asia Sentinel suggests is an impending crisis for China's banks is like comparing chalk with cheese.
What occurred during the GFC if you want facts, was the accumulation of a series of frauds aided and abetted by US government negligence and a sector out of control.
Because a number of Chinese banks have 'disappeared' (a very 'technical' term) it does not mean they are insolvent. Banks are at any given time in their life cycle potentially insolvent or likely to become insolvent because bank by nature are highly geared. They are necessarily so because they are financial intermediaries and as such often subjected to the vagaries f interest rate changes and changes in the economy not just domestically but also the worldeconomy.
China has a strong regulatory system and because of it sheer size some elements of the system fall through the cracks and they suffer the consequences which also flows on to the economy. But by comparison with the US created GFC it is nothing.
In the case of the US the regulator knew what was happening but were encouraged to ignore it in order to distract the population from that illegal war in Irak and Afghanistan.
"China has a strong regulatory system."
Please explain what happened with Evergrande then.