omg, where do you pick up such crap. Where anywhere in the world are financials in deeper trouble than in the US or the UK? If I had to pick any financials (I wont but if I was forced to) I would first chose the 3 Japanese megabanks and then some of the Chinese large financial conglomerates. Or are you seriously telling me that BoA, DB, CS, UBS, Citi, or in fact any European or American banking institutions are in better shape than their Japanese and Chinese/HK counterparts? Gotta be joking.
One way or another - "In the fullness of time all shall be revealed" Till then happy trading! Regards Johno
Asiaprop, Take a breathe now. You are right, everything is fine and China is very strong. And I thought i had a chip on my shoulder.
do I appear short of breath? ;-) I am not Chinese, am not Asian, I am not anti European or anti American in any way. But when people come here and utter crap that they later cannot support whatsoever, just because they picked up some panic story on a blog then I dont know how else to respond. Do people actually still think for themselves on this board or is everyone now following some gurus or trying to make a million tomorrow and trade effortlessly? No wonder 90%+ people fail in this endevour.
I would think there's plenty of panic if you visit the lending deparments of the chinese banks. They have lent billions over the last few years on pure vanity projects that will almost certainly never be able to service the original debt let along show a profit. But of course they're not going to say anything as that's business 101. Over to you Professor Goebbels (Chinese style)
any proof? or speaking from first-hand experience borrowing and defaulting on your debt? and btw, isnt that considered "peanuts" compared to the trash that the US Fed and Government has lent to a multiple of your mentioned amounts?
And the ranting continues! I suggest that you switch on your comprehension skills if they do in fact exist and re-read my post. Please pay particular attention to words such as "potentially" and the implications considering that the rest of the world is relying on China to pull them out of the poo hence the reference to Australia in particular. Regarding - "just because they picked up some panic story on a blog then I dont know how else to respond." - you make a lot of half cocked assumptions regarding where people get their information from. I gave you and other readers credit to know what credable information means, yet you seem to be unable to to comprehend, instead ranting about blogs and gurus. Your comment "then I dont know how else to respond." is probably your most honest response and just about sums your replys up! I hope for your sake that you're only young because over time and with introspection you may overcome your obvious weaknesses, but if you're older, sadly your prognosis does not look to promising at all! Regards Johno
This drop in direct foreign investment may be due to the lack of redress in Chinese courts from intellectual property piracy. It is well known that Chinese courts are a shill for the Gov.
asiaprop, I am sorry you seem so defensive. This thread wasn't an attempted slam on China, but to mention the important implications of a Chinese Economy that's cratering fast. Hundreds of thousands of factories HAVE been closed, and many of these are owned by multinational, Fortune 500 companies, or major Chinese ones, who have moved operations to Vietnam, Thailand or other countries, or who have simply idled or closed production; that's fact, whether you accept or deny it. And I do have first hand knowledge of this. I know someone who traveled to China quite often to handle JV plant deals between the company they worked for (a 26,000 employee, U.S. corporation) and local Chinese partners, and that company, at least, has seen some of these operations close, and others have been shelved. There is a steep drop-off in Chinese Economic activity, my friend. China has spun their data for a long, long time (more so than our 'ministers' have), and the truth of the state of health of the Chinese Economy is far worse than most realize.