Ping, in case you don’t habituate the Main Forum...
Who is on the hook for these?
Their policy on repayment: Screw you round eye.
China’s shadow banking market is bigger than their legit one. They are toast. They can’t print their way out like the dipshits at the Fed think they can do.
Wait ,Biden will borrow $800 Billion from the Chinese and bailout the Chinese
Gordon Chang published “The Coming Collapse of China” 23 years ago.
The ‘coming’ can be a long period of time, it seems.
China was an idiot for going after their billionaires
I read the the other day that the Chicoms have some 10 million mostly finished luxury homes that are ghost towns now that are separate from the older projects that went belly up. The animals are taking over. It’s even worse than the Evergreen mess from a couple years ago as bankers have pulled out and the (much fraud) financing is history.
Local Chinese banks, managing local people’s money in yuan made these loans and took the equivalent of high yield municipal and state bonds to balance their books. When the issuing agencies do not have the funds to service or redeem the bonds, the local banks go broke and ordinary people will begin to suffer. As in the US to avoid political unrest, unemployment and a loss of confidence in the banks, the central bank of China will step in, further weakening the national currency, cause inflation and contracting real investment. Meanwhile Chinese with surplus funds, if they can’t invest abroad in countries like the US,Canada, Australia or the EU buy gold and silver, further stagnating the economy. Once you squander capital, its gone.It can only be regenerated by productive hard work or conquering someone else.China has invested in a huge military so in the minds of some of their twisted leaders, war is an option.
Keep China 1959 it’s good for all.
Bkmk