Chinese bank lending surged by over US$1.35 trillion in 2009, according to Shaun Rein at Forbes. Much of that money went into stocks. And a lot of it went into Shanghai and Beijing real estate. Whether China bought itself a bubble is a very good question. One important point is that Chinese lending is based on savings…and isn’t borrowed (in U.S. fashion).
January 12th, 2010 | Dan Denning | 1 comment | ContinuedAll Posts Tagged With: "Chinese central bank"
Geithner Reassures China that America Takes Financial Obligations Seriously
So Geithner is in China, hat in hand, like a major debtor called into the bank president’s office. Geithner, of course, has no choice. He has to go…and say what he has to say. He will use all the right words. He will show the appropriate seriousness…
June 3rd, 2009 | Bill Bonner | 0 comments | Continued
