c**i
发帖数: 6973 | 1 (1) Tom Orlik, Semasek Exit Is Sounding Bank Alarm. Wall Street Journal,
July 7, 2011 (title in print)
http://online.wsj.com/article/SB1000142405
2702303544604576429530694562362.html
("How bad can things get for China's banks? Temasek Holdings isn't waiting
around to find out")
(2) David Barboza, China's Cities Piling Up Debt to Fuel Boom. New York
Times, July 7, 2011 (title in print).
http://www.nytimes.com/2011/07/07/business/global
/building-binge-by-chinas-cities-threatens-countrys-economic-boom.html?_r=1&
ref=davidbarboza
Quote:
"In the last few years, cities’ efforts have helped government
infrastructure and real estate spending surpass foreign trade as the biggest
contributor to China’s growth.
"As municipal projects play out across China, spending on so-called fixed-
asset investment — a crucial measure of building that is heavily weighted
toward government and real estate projects — is now equal to nearly 70
percent of the nation’s gross domestic product. It is a ratio that no other
large nation has approached in modern times. Even Japan, at the peak of its
building boom in the 1980s, reached only about 35 percent, and the figure
has hovered around 20 percent for decades in the United States. * * * it
could also signal a dangerous dependence on government infrastructure
spending.
"Adding to the risk, the collateral for many [municipal] loans is local land
valued at lofty prices that could collapse if China’s real estate bubble
burst.
Note:
(a) Wuhan Urban Construction Investment and Development 武汉城建投资
(b) Wangjiadun Central Business District 王家墩中央商务区
(c) Ocean Wide Corporation Ltd 海之宏有限公司 |
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