Mish's Global Economic Trend Analysis Sun 2010-02-07 18:15 EST
Nonperforming Loans in China Rise to "Trillions of Renminbi"
Inquiring minds are questioning the solvency of the Chinese banking system. Please consider China Defaulting Loans Soar, Insolvency Lawyer Says. Non-performing loans in China have risen into the ``trillions of renminbi'' because of poor lending practices, an insolvency lawyer said...The US, led by Hillary Clinton and president Obama, is putting enormous pressure on China to float the RMB, in expectation that it would rise and US exports would soar. I believe that if China floated the RMB on the Forex markets, it might crash.
China rises; Mish's Global Economic Trend Analysis; nonperforming loans; renminbi; trillion.