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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (26356)	3/26/2005 10:21:08 AM
From: mishedlo	Read Replies (2) \| Respond to of 116555

Is that from the China Orwellian Ministry of Propaganda? I will refer you to Roubini's comment. CCB (and the others) will need a heck of a lot more than $22 billion (or $45 billion), to restore solvency. I'll bet the majority of their loans are bust, and it will get even worse when the real estate Bubble unravels: Then why does everyone conclude the RMB will soar against the US$ if they float it? Mish

To: russwinter who wrote (26356)	3/26/2005 11:22:23 AM
From: RealMuLan	Read Replies (2) \| Respond to of 116555

Who is Roubini? and how much does he know about China's financial system? And why should I trust him more than the Chinese official figure? Oops, I forgot he is just one of so many know-better-than-Chinese Western economists! BTW, CCB scandal is related to bribe from a company of Fidelity. Yes, NPLs is high in China. But as many Chinese economists pointed out, China has very little national debt. NPLs in China should be looked at together with its national debt due to China's special situation. And when adding them up, China is in better shape than US or Japan!