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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: jim_p who wrote (41368)4/4/2005 4:58:30 PM
From: t4texas  Read Replies (2) of 206118
 
believe what you read in the print press, but caveat emptor. i read that article in the ft, and it reflects the way western institutions think of things. poor guys. china's banks have always been insolvent, and it is due to the state owned enterprise support -- welfare because the soe's are not competitive. when foreign banks come in with wto, deposits from chinese won't flee so fast as you or the print press thinks. also foreign banks aren't going to have as much freedom to do what they want as rapidly in china as you may think. the chinese will be very good at roadblocks for foreign banks doing what they think is there right. china does not have a lot of laws, and that helps business as usual. just monitor things that impact foreign direct investment, and you won't need to read or be swayed by ft.com articles on china's banking system.
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