from asia times online.....
"China's economy has been growing at a phenomenal pace in recent decades, averaging around 10% a year. Few people seemed to worry, therefore, when the Chinese government announced recently that gross domestic product (GDP) growth in the third quarter of 2011 slowed to "only" 9.1% . Almost any country would envy such growth. Yet beneath the continued robust appearances, there are signs that China is heading toward a crash reminiscent of the one that brought down the United States economy during 2007-2008.
China too is facing a real estate bubble financed by an unregulated shadow banking system that is just lately starting to get squeezed between tightening government regulation of credit and sharply falling export sales. If real estate prices finally start to tumble, the shock to bullish Chinese investors could collapse the shadow banking system, drive many smaller businesses under, and create severe unemployment problems"..........READ MORE
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