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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: John Hunt who wrote (16892)	10/29/1998 6:02:00 PM
From: John Hunt	Respond to of 18056

Mainland debt soars (China) scmp.com << The mainland's official foreign debt jumped sharply in the year to June, adding to concerns that Beijing will further crack down on companies involved in unauthorized overseas borrowing. As of June 30, foreign debt was up 16.3 per cent year on year to US$137.96 billion, official statistics showed. The surprising growth rate - compared with single-digit growth during the past few years - was revealed as concerns mounted over ballooning unregistered foreign debts which are not included in the official count. Economists said unregistered debts could be $30 billion or higher. >> Hmmm .... 30 billion+ unregistered, which means the Chinese government will not stand behind this amount of debt. Timber! ..........