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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: GST who wrote (65592)7/8/2006 11:57:31 AM
From: russwinter  Read Replies (1) of 110194
 
Received the following from my Chinese (American)importer friend, which combined with this news story, suggests a major tightening and credit slowdown. The mercantilistic subsidizes (including credit terms) for exporting cheap goods to the US may be removed. The biggie wil be normalizing pollution costs into export prices.

"You may be interested in knowing this, that one of my mills has informed me to pay back all I owe (payment term has been 90 days for the last several years). The parent company (the group) sent a delegation to check on their account and demanded so, which i think is the chain reaction of the Chinese government in tightening the loans. Action is faster there due to the governing system, which remind me the joke that the 1.3 billion Chinese were asked to jump at the same time."

July 7 – MarketNewsInternational (Allen Feng): “Evidence is building that China’s loan growth has slowed substantially in recent weeks, taking pressure off the government to tighten monetary and administrative policy further. A senior bond trader with a state-owned bank said fragmentary data he has seen points to a considerable slowdown in lending activity in June, suggesting that Beijing’s second-quarter campaign to bring credit activity to heel is having an impact.”

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