All TRUE!<quoted text>
Are you joking? China is going through a Lehman brothers moment right now, Chinas dysfunctional stock market is one of the worlds worst performers for years despite the economys comparatively good growth, the is a $5 trillion shadow banking bubble that has forced the Chinese government to recapitalize the shadow banking product known as wealth-management product (WMP).
China's SOEs including Banks, beverage and Coal made a combined loss of $210 billion, PetroChina Company Limited loses 600 million yuan/around $93 million EVERYDAY! The banking industry, which in aggregate shrunk by 425 billion yuan/about $66 billion hence ICBC is no longer the largest bank in the world in terms of capitalization.
Chinas shadow banking system is collasping responsible for a loan portfolio that amounts to more than one-third of the debt issued by traditional banks and nearly half of the countrys GDP and the banks can no longer cope with the demands of financing rapid urbanization. Chinas financial system has been under such pressure for the past six months, with banks struggling to meet their liquidity needs and massive new lending failing to generate much growth in the real economy.
HEALTHY? China looks like 2007 USA all over again.
It was after all only a matter of time until the warped CCP Red Landlord scam economy failed.
Keep posting. You are an astute and well-informed observer of China, and I and many others here enjoy your posts!