ARE CHINESE BANKS A SAFE BET?
I can tell you one thing; local Chinese don’t think so. The vast majority still hides their money under the mattress and pays cash for all their purchases from a two cent bowl of rice to the $200,000 house in a swanky Shanghai suburb. Banks are for multi-national corporations, central, state and city government-owned enterprises. [...]
GEITHNER ON A MISSION SUCKING UP TO THE CHINESE
With China claiming they are so worried about the value of its roughly $1.4 trillion of treasury bonds, and the mood of the Federal Reserve to print money to solve our economic ills, if I were Timothy Geithner, I would have asked Ben Bernanke to have cranked up the printing presses and dispatched a shipload [...]
CHINA FEELS THE DOWNTURN IN TRADE
At long last there is some real evidence China is feeling some cold from this recession. Up until I found this news item, everything I have read paints a rosy picture of what is going on in China. Their stimulus plan is outstanding while in America, media cannot find enough bad news to tell us [...]
IATA STATISTICS TELL THE STORY, BUT THERE’S MORE TO LIFE AS A FORWARDER
Japan’s air exports are down 40% and China’s 30%. Walking the office, sometimes I feel the USA must be down 50% when I look at the pick up and booking boards. When the week is over and the initial number crunching takes place, it is a case of, “Great, we have survived another week.” Our [...]
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