Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (18861)	5/10/2002 9:02:38 PM
From: westpacific	Read Replies (2) of 74559

Standard and Poors warns on Chinese banks According to S&P, they appear to be trying to prop themselves up by issuing new loans at a furious pace, in many cases financing vaguely described projects with little discernible effect on China's overall economic output. This approach could yield even more bad loans, and may be creating a bubble of wasteful and mismanaged overspending of the kind that led to crises in many other Asian nations in the late 1990's, according to T. Chan, the ratings agency's director for Chinese and Southeast Asian financial institutions. He went on to say that 25 to 30% of all bank loans were not being repaid. And S&P today estimated the situation may be twice that bad, with half of all loans classifiable as non-performing. This problem looks to be serveral times worse than Japan's!!! --------- Add one more check mark to the global collapse that is coming! West

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