Posted on 07/30/2011 4:13:39 PM PDT by NoLibZone
Maybe Chinese trains don't go as fast as promised, but they still cost quite a lot.
China's Railway Ministry is 1.98 trillion yuan ($294.87 billion) in debt after the first quarter of this year, and its asset-liability ratio has reached 58.24 percent.
To continue financing projects (they still have trains to buy and roads to build), the Ministry will issue bonds on July 21st. This is the third time they've had to issue bonds this year- the first time it raised 20 billion yuan, the second time it raised 15 billion yuan.
That's aside from what China Daily calls "super-short-term financing bonds of 10 billion yuan" issued three times, and "mid-term notes of 20 billion yuan." Add all that to the pack in China's already messy bond market.
(Excerpt) Read more at businessinsider.com ...
AMtwak......
I sure hope we don’t have to pay for it. Again.
Pikers... Now if Harry Reid and Obama were in charge, it would be 10 times as great, and with future projections limited to only 4% annual increases at that!
This is only the tip of the iceberg regarding China and the phony idea that somehow China is going to kick America’s a$$. China has its decks awash with several critical problems hitting it from all points of the compass. Even with Obama at the helm of America, a child could defeat China. Stand by for the return of a stronger America
Agreed.
Recall Japan’s strength in the 80’s? They were to take over all of the US soon.
Racist Asian nations always implode.
Collis P Huntington would understand and approve. It's a question of who is on the hook for the debt, and who gets the benefits of the debt. I've said it here a dozen times. China is going through their own Robber Baron phase. In the long run that's to their benefit.
>>>> Even with Obama at the helm of America, a child could defeat China.
So sayeth Japan, circa 1932.
Amazing. Without union thugs, EPA weenies, meddling dem pols...
It seems they build their economy based on doing dumb dumb make work jobs...
If China's situation is as bad as it seems, they may be forced to sell a bunch of US T-bills they've been holding.
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