Amid the global economic crisis, China rises

Posted by Matt in October 7th, 2009 | no comment

Published in China, Associated Press, Australian Iron, British Auto, Central Asia, Chinese Money, Economic Growth, Factories, Federal Debt, Financial Crisis, Financing Development, Global Economic Crisis, Global Financial Crisis, Iron Mines, Next Decade, Oil Fields, Oil Prices, Stimulus, Trillion, Trillions, Venezuela, Yuan

The financial crisis set back U.S. growth by years and will add trillions to the federal debt over the next decade. But China avoided the worst of the crisis. Its banks are healthy and, with the help of a 4 trillion yuan ($586 billion) stimulus, this year’s economic growth is on track to top 8 [...]

Why China’s Banks Are Stronger than America’s

Posted by Matt in June 3rd, 2009 | no comment

Published in China, Financial, U.S., Bank Of America, Banks, Billions Of Dollars, China Construction Bank, Chinese Banks, Chinese Money, Economy, Financial Crisis, Global Financial Crisis, Hand Over Fist, Making Money, Merrill, Money Hand, Net Profit, Stake

Last year China Construction Bank’s net profit soared 10% to $11.9 billion. In the same period, Bank of America, which at the time owned some 19% of the Chinese lender, earned just $4 billion, down 73% from 2007. That’s all you need to know to understand why Bank of America in May sold a 5.8% [...]

A tidal wave of discontent threatens China

Posted by Matt in January 13th, 2009 | no comment

Published in China, beijing, China, Chinese Government, Chinese Money, Concentration, Consumers, Country Population, Discontent, Disparity, Drowning Man, Economic Crisis, Foreign Currency Reserve, Government Money, Incomes, People, Tidal Wave, Trillion

The whole world is suffering from an economic crisis. Some in the West, like a desperate drowning man clutching at a straw, have said the Chinese Government has a lot of money, let us beg them to save us from the crisis. But they do not realise that the Government in Beijing does not know [...]