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May i ask how do we define credit crunch? What the US credit crunch is experiencing now is not only the subprime mortgage defaults which are measured by only about 1% of all mortages, but worse, the financial innovation, the financial engineering this has created by chopping and packaging into CDOs, SIVs, ABCPs, and maybe more others to be discovered in the months to go.
Jan 04 15:07 pm
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All Comments by H.W. »The Next Credit Crisis Will Originate in China [View article]
Do you think China's "limited" potential "NPL"s or "public debts" were capable of expanding into financial innovations like what the US has created to form a crunch like the US financial did?
Public debts are covered by China's vast reserves from surpluses, not to mention, with pegged collaterals. The net losses will be covered, provided that there are no ABCP's, SIV's or CDO's Chinese banks had ventured into, when the giant was still hibernating!