Dollars and Jens

Dollars and Jens

Tuesday, May 09, 2006

Bad Chinese Debt

According to Ernst & Young, the accounting firm, bad loans in the Chinese financial system have reached a staggering $US911 billion..., including $US225 billion in potential future [non-performing loans] in the four largest state-owned banks.

This equals 40 per cent of gross domestic product and China has already spent the equivalent of 25-30 per cent of GDP in previous bank bail-outs.

Story here. There's a lot more about Chinese finance.

- posted by Steven @ 6:26 PM

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