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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
London Telegraph 
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 told The Daily Telegraph.
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URLs in this post:
 London Telegraph: http://www.telegraph.co.uk/finance/china-business/10123507/Fitch-says-China-credit-bubble-unprecedented-in-modern-world-history.html
 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
 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
 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
 The Biggest Bubble In History: Fraud: http://www.prisonplanet.com/the-biggest-bubble-in-history-fraud.html
 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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