China's leaders are downplaying their economic troubles (but seem worried the real data will get out)

[TBoneTX 45,288]

China's leaders are downplaying their economic troubles (but seem worried the real data will get out)

 

https://hotair.com/john-s-2/2023/08/21/chinas-leaders-are-downplaying-their-economic-troubles-but-seem-worried-the-real-data-will-get-out-n572640

[Mike E 11,739]

Relevant:

 

https://www.quora.com/What-are-the-chances-of-China-invading-Taiwan-this-decade/answer/Tomaž-Vargazon?ch=17&oid=1477743689068885&share=986a3f18&srid=3HV7J&target_type=answer

 

 

[TBoneTX 45,288]

6 minutes ago, Mike E said:

Relevant

Interesting, after I got through the proofreading errors.  I suspect that Xi's pride will influence his actions.

[Dashinka 24,494]

Pressure to revive economy muddies earnings outlook for China's top banks

 

BEIJING (Reuters) - A scramble by Chinese policymakers to tackle a debt crisis in the property sector and shore up the economy is set to deal a blow to the earnings prospects for its big banks as they are pressed into the task of boosting credit demand.

 

China's top five state-owned banks are expected to post a sharp decline in revenue and narrower net interest margins (NIM) as they turn in half-yearly results, with China Construction Bank kicking-off the reporting season on Wednesday.

 

The results will come against the backdrop of record-low credit growth in July, default risks at some housing developers and missed payments by a private wealth manager linked to shadow banking that has raised contagion risk to the broader economy.

 

https://www.msn.com/en-us/money/markets/pressure-to-revive-economy-muddies-earnings-outlook-for-chinas-top-banks/ar-AA1fBN40

[Dashinka 24,494]

Another big China based developer facing troubles.

 

Another bad day for Chinese property developers

 

The big question now is what will happen with Country Garden, another of China’s largest property developers. Country Garden signaled recently that it was at risk of defaulting on some bond payments. An effort to push off some of those payments for another three years was set to be voted on by bondholders last week but at the last minute, Country Garden canceled the meeting.

 

Distressed Chinese developer Country Garden Holdings postponed a meeting at the last minute with bondholders who were to vote an extension plan involving a 3.9 billion yuan (US$535 million) note due next week, adding to risks of a possible default.

 

Country Garden, which was previously China’s largest developer, on Friday night delayed the proposal to August 31, to extend the payment on the “16 Bi Yuan 05” note due on September 2, by three years, according to people familiar with the matter.

 

The company held several meetings with its major bondholders since Wednesday to try to convince them to accept its proposal…

 

Major bondholders include China Guangfa Bank, Bank of China, China Merchants Bank, according to Chinese media outlet Caixin. However, some of the bondholders had demanded a full repayment.

 

https://hotair.com/john-s-2/2023/08/28/another-bad-day-for-chinese-property-developers-n574357

 

 

[Mike E 11,739]

It is a testament to the Founders that try as they might, modern progressive politicians are unable to totally derail that which Jefferson et al wrought. Whereas, as brilliant as Deng Xioaping was, nothing he did was cast in similar stone.

 

”To get rich is glorious!”

 

So sad that Deng’s vision has been destroyed.

 

God bless America and God bless President Trump.

[TBoneTX 45,288]

5 hours ago, Mike E said:

God bless America and God bless President Trump.

You realize that now you're a Deplorable who needs cancellation.