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As evidence of overwhelming amounts of bad debt grows, it's useful to know this isn't China's...

As evidence of overwhelming amounts of bad debt grows, it's useful to know this isn't China's first rodeo. The country's banking system collapsed in the 90s, forcing Beijing to remove the bad assets from bank balance sheets and set negligible deposit rates to finance recapitalization. The cost of the operation was ultimately born by consumers, who will likely be holding the bag this time around as well.
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  • Sam Liu
    , contributor
    Comments (3864) | Send Message
     
    Who are the consumers, would it be better to say foreign enterprises who invest hard money into the economy. If the consumers saved the economy last time, would it be then the populus and SOEs
    6 Jul 2011, 03:16 AM Reply Like
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