1. China really knows how to make money grow.
Money supply up 18% in August
The annual growth in the broad measure of money supply, or M2, was 18.09 percent in August from the same period last year, according to the People's Bank of China (PBOC)....The narrow measure of money supply, or M1, continued to grow in August at 22.77 percent year-on-year, the PBOC said.
2. China knows how to keep money flowing into the stock market.
Mortgage deposit for repeat buyers may rise
Rising inflation has put real interest rates for deposits in negative territory, compared with the 3.6 percent one-year key deposit rate....This has raised concerns that more individuals will channel their money into the stock and property markets, fueling bubble.
3. China is all powerful and can absorb external shocks.
World Bank: China can 'absorb' shock
"Even if the financial crisis brings about a global economic slowdown, it will help China to adjust its pace of economic development."
4. China will effectively prevent corruption.
China establishes corruption prevention bureau
China punished 16 ministerial-level or higher officials for "serious corruption" in the last five years....According to the Central Commission for Discipline Inspection (CCDI), 97,260 officials were disciplined last year, more than 80 percent of whom had failed to carry out duties, taken bribes or violated the party's financial rules....Several high-profile officials had fallen in corruption scandals, including the former head of the food and drug administration and former party head of China's economic hub Shanghai.
5. China has put an end to alternative investments such as the ever popular Swiss Mutual Fund.
China's largest 'pyramid' scheme nets 170,000 people
Chinese police have uncovered the country's largest ever alleged on-line pyramid selling scheme, involving 170,000 people and 1.36 billion yuan (US$180 million)....The scheme, operated under the name of "Swiss Mutual Fund", required each investor to pay 8,000 yuan (US$1,052) and promised to pay back 400,000 yuan (US$52,000) in 30 months.
Monday: New Home Sales
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Weekend:
• Schedule for Week of December 22, 2024
• Ten Economic Questions for 2025
Monday:
• At 8:30 AM ET,*Chicago Fed National Activity Index* for Novem...
9 hours ago
4 comments:
You forgot "backed by the full faith and credit of the PRC." Snigger. Roach motel investment. You can put your money in but it can never leave. Seriously, repatriation is an issue.
Hey Rob,
Roach motel investment. You can put your money in but it can never leave.
I feel a song coming on! ;)
Welcome to the Condotel California?
[We haven't had that appreciation here since 1999]
Rob! You Dawg!
I almost have the song done but you are anticipating much of the punch line, lol. ;)
He said, "You haven't had that spirit here since nineteen ninety nine"
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