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To: Victor Lazlo who wrote (151377)	1/7/2003 1:59:01 AM
From: GST	Read Replies (1) \| Respond to of 164684

"the bmw guy thinks 40 million Chinese could get credit approval to leverage themselves to the hilt to get one" Not likely. The savings rate here is about 25% of income -- people who buy cars pay cash for the most part. Consumer loans are being introduced this year. Real estate is far more likely to experience a credit-induced boom. Millions of condominiums are coming on the market -- a whole range from $30 thousand US to $350 thousand US, with most int eh $50 thousand to $100 thousad US range. The Chinese will have to borrow to absorb the new housing. The market for mortgages as we know them is just beginning this month. Banks, like Citigroup, face huge opportunities for all kinds of financial services. By the way... Rolls Royce just introduced a new Rolls -- target market, China.