Money and Finance
- Jim Grant: The World Has Never Seen The Likes Of China’s Credit Frenzy
Via ValueWalk:HERETOFORE UNIMAGINED The world has never seen the likes of China’s credit frenzy. From year-end 2008 through the third quarter of 2013, assets on the balance sheets of Chinese banks grew by $15.1 trillion to $24.3 trillion. That growth...
- Gmo White Paper: Feeding The Dragon: Why China's Credit System Looks Vulnerable - By Edward Chancellor And Mike Monnelly
The conventional view is that China’s economy has recently experienced a "soft landing" and is now poised for take-off. In this white paper, GMO’s Edward Chancellor and Mike Monnelly tell a rather different story, namely that the Chinese credit system...
- Richard Duncan Quotes
Longer excerpt from The New Depression (taken from my Kindle highlights, so the excerpts aren’t necessarily the paragraphs I have put them in below, and there may be things in between that I didn’t highlight). “…the paper money creation by the...
- China Set To Continue Supersize Binge - By Edward Chancellor
It is easy to see why Chinese premier Wen Jiabao is calling for a “greater emphasis on growth”. China’s property market is stressed and the country’s main export market, Europe, is contracting. Several economic indicators, including electricity...
- The Absolute Return Letter - February 2011: Find The Hat
I suspect there is not one but many hats hidden in the national accounts of China and, thanks to Wikileaks, we now have a very public figure admitting as much. In a leaked 2007 cable Li Keqiang, who is the favourite to become the next premier, confided...
Money and Finance
China’s cash pile provides no shield - By Edward Chancellor
China sits on the world’s largest foreign exchange reserves. Many people view Beijing’s $3tn cash pile as providing economic insurance for years to come. From this perspective, the fact that China has just produced its first quarterly balance of payments deficit since 1998 looks inconsequential. After all, the $12bn deficit is a rounding error compared to the massive reserves.
In fact, China’s forex reserves are vulnerable on several fronts. And if the balance of payments deteriorates rapidly, the dysfunctional Chinese banking system will come under increasing pressure.
- Jim Grant: The World Has Never Seen The Likes Of China’s Credit Frenzy
Via ValueWalk:HERETOFORE UNIMAGINED The world has never seen the likes of China’s credit frenzy. From year-end 2008 through the third quarter of 2013, assets on the balance sheets of Chinese banks grew by $15.1 trillion to $24.3 trillion. That growth...
- Gmo White Paper: Feeding The Dragon: Why China's Credit System Looks Vulnerable - By Edward Chancellor And Mike Monnelly
The conventional view is that China’s economy has recently experienced a "soft landing" and is now poised for take-off. In this white paper, GMO’s Edward Chancellor and Mike Monnelly tell a rather different story, namely that the Chinese credit system...
- Richard Duncan Quotes
Longer excerpt from The New Depression (taken from my Kindle highlights, so the excerpts aren’t necessarily the paragraphs I have put them in below, and there may be things in between that I didn’t highlight). “…the paper money creation by the...
- China Set To Continue Supersize Binge - By Edward Chancellor
It is easy to see why Chinese premier Wen Jiabao is calling for a “greater emphasis on growth”. China’s property market is stressed and the country’s main export market, Europe, is contracting. Several economic indicators, including electricity...
- The Absolute Return Letter - February 2011: Find The Hat
I suspect there is not one but many hats hidden in the national accounts of China and, thanks to Wikileaks, we now have a very public figure admitting as much. In a leaked 2007 cable Li Keqiang, who is the favourite to become the next premier, confided...