Feng

Can China Weather a Downturn?

The Chinese banks don't have as high leverage as their Western peers have. In fact, they were not even close. In China buying a house/apt requires 30% downpay.

This articles reminded me of the old rhetoric from the Western officials who have been lecturing the Chinese bankers/officials for its banking system's lack of openness and NPL over the years. And it's very funny to hear that again.

China for sure will be impacted by the global slowdown. But China will continue to grow at >7% and I don't see a financial crisis in China's banking system in the short term.