China is known as one of the world’s greatest financial powers. They stand out as one of the few countries not struggling through this global recession, or are they? In an article on CNBC.com there is some speculation over whether the country is doing as well financially as they would like the rest of the world to believe. The Big Four banks in China have continued to seek out new sources of capital, even after a lending boom in 2009-2010. One of the biggest concerns that analysts have is that the government is one of the biggest borrowers as well as shareholders; so in essence the money is just going around in circles despite all of the new loans. Only time will tell if they are able to sustain this cycle.
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Really?? This is definitely news to me. I did not know that China of all places was one of the world’s greatest financial powers. I kind of thought they were in poverty. Very interesting article.
Yeah from what I’ve heard Chinese banks were encouraged to go on a lending spree by the government to boost liquidity and spur growth in 2009, but now they face the risk of rising non-performing loans, particularly in the real estate sector, as the economy slows.