From one angle, this is surprising. Don't the Chinese have all OUR money? How, then, can they be running out of it?
From another angle, it's not. China has been going through a long, strong expansion and corrections are inevitable. The banks have made bad loans in a boom, just as our banks did – just on different stuff.
But there don't seem to be a lot of safe havens.
Feed: BBC News - Home
Posted on: Tuesday, August 30, 2011 10:24 PM
Author: BBC News - Home
Subject: Rating agency warns on China debt
| Rating agency Fitch says it may downgrade China's yuan debt rating on fears of rising defaults after record lending by banks. |
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