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BLOOMBERG: Is China Credit-Bubble About To Burst - VIDEO

BLOOMBERG: Is China Credit-Bubble About To Burst - VIDEO

By Bloomberg News | May 29, 2013 | 3:20 AM PT

Chinese banks are adding assets at the rate of an entire U.S. banking system in five years. To Charlene Chu of Fitch Ratings, that signals a crisis is brewing.

Total lending from banks and other financial institutions in China was 198 percent of gross domestic product last year, compared with 125 percent four years earlier, according to calculations by Chu, the company’s Beijing-based head of China financial institutions. Fitch cut the nation’s long-term local-currency debt rating last month, in the first downgrade by one of the top three rating companies in 14 years.

“There is just no way to grow out of a debt problem when credit is already twice as large as GDP and growing nearly twice as fast,” Chu, 41, said in an interview.

Read more: http://www.bloomberg.com/news/2013-05-28/china-credit-bubble...

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Chinese Revolution

There will be a Chinese Revolution within 8 years imo.

The costs of this police state will not be able to be sustained along with their military and domestic spending. Even with their foreign businesses, they have no means of protecting them. They are subject to arbitrary rulings of the host countries and so are their foreign workers and investors.

Religion is also booming in China even with all the government intrusions, prohibitions, and punishments.

donvino

What's

absurd is an article coming out of this country which is 17 trillion in debt with massive trade deficits each month and endless trillions of obligations talking about a country that actually has exports and savings. This is just more nonsense from establishment morons and they will find out soon that lying doesn't change the facts. China is rising and we are falling, we are socializing and they are capitalizing.

"Endless money forms the sinews of war." - Cicero, www.freedomshift.blogspot.com