credit crisis

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Amid Slowdown, Bad Debt Mounts in Jiangsu

Koh Gui Qing of Reuters writes of the “nightmare scenario” unfolding in provinces such as Jiangsu, home to China’s most indebted local government: Little public information is available on the total debt of...

Latest GDP Numbers: Time to Freak Out? (Updated)

Bloomberg columnist Willie Pesek writes that we should ignore China’s latest GDP growth figure, which slowed to 7.5% in the second quarter, because things “are much worse than they appear:” Even if we take the...

CDT Money: Credit Where Credit Is Due

A key measure of Chinese manufacturing activity edged into positive territory last week, as the official Purchasing Managers Index (PMI) rose from a September level of 49.8 to 50.2 for October. The expansionary figure represents...

CDT Money: Tale of Two Economies

Mixed messages continue to emerge about the state of China’s economy, after an official reading of China’s manufacturing sector defied a negative preliminary forecast and signaled a rebound in factory activity in...

CDT Money: More Signs of a Slowdown

Despite suggestions last week that the yuan exchange rate had reached equilibrium and hints of possible liberalization in its trading range, officials at the People’s Bank of China set the yuan’s U.S. dollar...

Is Winter Coming for China's Economy?

Amid tumbling real estate prices, credit woes in Wenzhou, and data released yesterday showing that China’s factory sector shrank the most in 32 months in November, Tsinghua University business professor Patrick Chovanec...

Swimming Naked in China

Local prosecutors in Wenzhou, ground zero for China’s growing credit woes, announced they have arrested a duo accused of running a shadow lending scheme. From China Daily: The wife, Shi Xiaojie, was suspected of illegally...

China Considers Aid Program for Laid-off Workers

From the International Herald Tribune: As a result of the global economic downturn, the province of Guangdong may set up a fund to help newly unemployed factory workers. The proposal is believed to be in response to fears about...

Beijing Monitors Foreign Financial Groups

From FT: Beijing has stepped up its monitoring of international financial institutions in the country amid fears that the failure of a large foreign group could see the global credit crisis spill over into a largely insulated...

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