patrick.net

http://investmentwatchblog.com/china-is-crashing-as-predicted/

Total Chinese banking assets currently stand at some CNY147 trillion, around 2 times GDP. As such, they have doubled in the past four years of increasingly misplaced investment and frantic real estate speculation, adding the equivalent of 140% of average GDP or, in dollars, $12.5 trillion to the books. For comparison, over the same period, US banks have added just less than $700 billion, 4.

Just how short-sighted will the West be on this?

#housing