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FITCH: China’s Credit Bubble Is Unprecedented In Modern World History

Posted By admin On June 17, 2013 @ 4:52 am In Money Watch | Comments Disabled

Ambrose Evans-Pritchard
London Telegraph [1]
June 17, 2013

The agency said the scale of credit was so extreme that the country would find it very hard to grow its way out of the excesses as in past episodes, implying tougher times ahead.

“The credit-driven growth model is clearly falling apart. This could feed into a massive over-capacity problem, and potentially into a Japanese-style deflation,” said Charlene Chu, the agency’s senior director in Beijing.

“There is no transparency in the shadow banking system, and systemic risk is rising. We have no idea who the borrowers are, who the lenders are, and what the quality of assets is, and this undermines signalling,” she toldĀ The Daily Telegraph.

Full article here [1]

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URLs in this post:

[1] London Telegraph: http://www.telegraph.co.uk/finance/china-business/10123507/Fitch-says-China-credit-bubble-unprecedented-in-modern-world-history.html

[2] World needs $100 trillion more credit, says World Economic Forum: http://www.prisonplanet.com/world-needs-100-trillion-more-credit-says-world-economic-forum.html

[3] Living Beyond Our Means: 3 Charts That Prove That We Are In The Biggest Debt Bubble In The History Of The World: http://www.prisonplanet.com/living-beyond-our-means-3-charts-that-prove-that-we-are-in-the-biggest-debt-bubble-in-the-history-of-the-world.html

[4] Credit Card Companies reducing your credit to help inch us to The GREAT DEPRESSION: http://www.prisonplanet.com/credit-card-companies-reducing-your-credit-to-help-inch-us-to-the-great-depression.html

[5] The Biggest Bubble In History: Fraud: http://www.prisonplanet.com/the-biggest-bubble-in-history-fraud.html

[6] The Student Loan Debt Bubble Is Creating Millions Of Modern Day Serfs: http://www.prisonplanet.com/the-student-loan-debt-bubble-is-creating-millions-of-modern-day-serfs.html

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