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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Hawkmoon who wrote (9239)5/5/2008 12:24:08 AM
From: John Pitera  Read Replies (1) of 33421
 
Hi Hawk, absolutely correct many of the Chinese Banks have incredibly dicey balance sheets. China is not a free market, it's not an open market, it is currently structured as an Enron type black box, although the Government generates tremendous balance of trade surpluses each month due to the undervalued currency. The Chinese Government MUST create a happy content middle class; without that a people revolution is always possible. To create this larger chinese middle class will require them to have more western middle class things like cars, electrical appliances, A/C, etc. This should continue to create very impressive year over year consumption increases of Crude and all forms of Energy.

I'd Imagine the Chinese Reserve bank has accumulated 1.5 Trillion dollars of foreign currency reserves and the Those reserves are about 40% undervalued still!!!!!!
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