Rantings and tirades of a frustrated economist.
Those Chinese banks are heavily into Construction and Development loans in their own nation. If their economic growth continues, they'll be all right. If they falter, their banking sector will crash just like ours. The deciding factor for that will be our recovery which doesn't look too promising.Who knows how many CRE loans they've made in the US which will soon come tumbling down.
No... I think some of those banks are Argentinian. If you've noticed, all the banks with losses are all western, and the ones profiting are in the developing world.Oh, dear.
RBC, Barclays, and HSBC aren't exactly Chinese...
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