YESTERDAY we highlighted how a crucial government meeting takes place in November in China. This could well outline the blueprint for economic reform over the next few years. A major challenge facing China’s new leaders is the unsustainable surge in debt since 2008 – a problem we have been highlighting for several years now. […]
Asian Chemical Connections
China: Realism Is Not The Same As Pessimism
By John Richardson A CRUCIAL meeting takes place in China in November – the Third Plenary Session of the 18th Communist Party of China Central Committee. More commonly referred to as “the November plenum”, the outcomes of the meeting will help determine the economic success or failure of China over the long term. President Xi […]
China To Take A Big Stick To Financial Crisis
By John Richardson CHINA is facing a financial crisis that could put US sub-prime into the shade. “Between 2007 and 2012, the ratio of credit to GDP climbed to more than 190%, an increase of 60 percentage points,” said US funds manager, GMO, in a report. “China’s recent expansion of credit relative to GDP is […]
Coal-To-Chemicals Funding Clampdown
By John Richardson Coal-to-chemicals is one of nine major industrial sectors that the China Banking Regulatory Commission has warned is blighted with overcapacity and other risks related to what it calls, rather disingenuously, “the economic cycle”. Thus, the commission has advised the state-owned banks to exercise greater caution in extending further funding to these sectors. […]
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