CHINA is on course for a full-scale financial meltdown that could cause havoc across the globe, suggest early warning indicators tracked by the world’s central bank watchdog.
The seeds have been sowed for potential financial distress in the world’s second-largest economy, according to the Bank for International Settlements (BIS). Continue reading
China Securities Journal, a voice of the regulators, said: “We cannot use a fast money supply growth as in the past, or even faster, to promote economic growth.”
“I am extremely concerned about China,” said Lars Christensen from Danske Bank. “They are overdoing it and are on the verge of making the same mistake as the Fed and the European Central Bank before the Lehman crisis in 2008, when they failed to see how much the economy was slowing.” Continue reading