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| China-Japan-Koreas |
| E&Y: China's Non-Performing Loans at $900 billion |
| 2006-05-04 |
| The 2006 Ernst & Young “Global Nonperforming Loan Report 2006” does point out though that almost every country covered in the 2004 edition of the report—with the notable exception of China—has managed to reduce its “legacy NPLs” (loans made before 1997). There are signs even in China that transaction activity may be on the rise. China is poised to allow foreign investors access to its banking industry and, despite a slow start, the NPL disposition process has accelerated there in the last 12 months. However, considering Ernst & Young’s own conservative estimate of the actual depth of China’s total NPL exposure—at US$900 billion, substantially more than any other country in the report—and the large numbers of legacy (pre–1997) loans still to resolve, China’s NPL problems appear far from over. As reported, China’s overheated property markets are certain to produce fresh NPLs in coming years. |
| Posted by:Nimble Spemble |
| #6 Criminy! $900 billion. $50,000 from each executed prisoner's organs sold Looks like they need to start arresting more folks. |
| Posted by: Dreadnought 2006-05-04 23:23 |
| #5 GOLDMAN-SACHS > various blogers still say that Goldman-Sachs sezzes that China will overtake the USA as global econ powerhouse circa Year 2041. |
| Posted by: JosephMendiola 2006-05-04 21:57 |
| #4 Its Bush's fault!!! /LLL socialist lunacy |
| Posted by: DarthVader 2006-05-04 19:49 |
| #3 Hush Chuck, the wiley Chinee are going to drump the dollar and destroy us. Please stay with the meme. |
| Posted by: 6 2006-05-04 16:13 |
| #2 The amount of non-performing loans exceeds the foreign currency reserves. China is bankrupt. |
| Posted by: Chuck Simmins 2006-05-04 15:11 |
| #1 Can't say as the rest of the world's economic gnomes didn't warn China's economic gnomes about this stuff way in advance. Sure, they may be short, and pale, and wretched, but they were bred to be gnomes. You ignore their economic advice at your own peril. |
| Posted by: Anonymoose 2006-05-04 14:39 |