Posted on 04/28/2014 6:54:45 PM PDT by Olog-hai
Just as the global economy has all but recovered from debt-fueled crises in the United States and Europe, economists have a new worry: China. They see a lending bubble there that threatens global growth unless Beijing defuses it.
That’s the view that emerges from an Associated Press survey this month of 30 economists. Still, the economists remain optimistic that Beijing’s high-stakes drive to reform its economy—the world’s second-largest—will bolster Chinese banks, ease the lending bubble and benefit U.S. exporters in the long run. […]
The source of concern is a surge in lending by Chinese banks. The lending was initially encouraged by the government during the 2008 global financial crisis to fuel growth. Big state-owned banks financed construction of homes, railroads and office towers. But much of the lending was directed by local officials for pet projects rather than to meet business needs. …
(Excerpt) Read more at hosted.ap.org ...
There are more sky scrappers in China than there’s corn in Kansas. That’s a bad sign. Means they can’t think if anything productive to do with their money.
China: Perfect example that Liberals and Democrats are the primary cause of the filthy pollution all over the world. They want everyone to work in factories with all of their chimmneys spewing out billions of gallons of toxic fumes! Right?
I’ve been there. The worst stories you’ve heard about the air is no exaggeration.
i really feel sorry for the cows there, assuming they use them for dairy products,yet the cows are inhaling those fatal fumes. it would be like having all american cows smoke a pack a day over here. Yummy Milk and Cheese!
Your racism is disgusting.
I can’t be worse than Harry Reids racism.
That’s a non sequitur.
That's hard to imagine given how primitive the infrastructure is in most of the country.
It is true that people are moving out of hovels into 21 century accommodations. That’s a good thing.
It is also true there are high rises that NO ONE lives in. That is disturbing.
Absolutely correct but that is for reasons of crony payoffs not because there are no better ways to spend the money. Future leaders are going to regret the lost opportunity to build out their infrastructure. I for one think every empty skyscraper is one less destroyer or submarine to worry about.
Here is how I look at it.
A prosperous China is a good thing for the world.
A starving and desperate China is the world’s worst nightmare.
I am rooting for China.
That is especially true now that they have seen prosperity.
A prosperous China is a good thing for the world.
Maybe. I'd be a lot more comfortable if they were adopting some more political and social openness. How do you say 'Perestroika and Glasnost' in Mandarin?
they are good people and want predictable things for their families.
I’m there now - a ton of buildings have been paused in misconstruction. It’s coming question is either when or can they manage to paper it over and maintain.
A prosperous communist China is being aggressive and revanchist towards its neighbors. A starving and desperate China imploded—remember that “cultural revolution” that did not work out so well, until Nixon started helping them?
Nixon felt that free enterprise could lift China out of the failures of communism, and so made overtures for doors to be opened to that end.
The results are mixed. Chinese communism isn’t gone, but neither is it as disastrously cruel now as it otherwise might have been. There has been a quiet ascension of Christendom within China.
China did not eat America’s lunch, IMHO. America got lazy and complacent about its own lunch.
Well, we don’t know just how disastrously cruel they aren’t right now, because we’ve got a liberal media that kinda covers up for them. They haven’t been slack in exporting their communism to our shores, to be sure.
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