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Main » 2016 » April » 25 » What looks like China
What looks like China

Billionaire George Soros said that the economy of China, where debt - the main driving force, is very much like America in 2007-2008. - For AMarkets materials.




The March figures China credit debt dynamics hint at the approaching danger.The rate of new loans amounted to $ 362 billion (2.34 trillion yuan) in the last month. This is much more analysts' expectations. The expectations were at 1.4 trillion yuan. This all means that the priority of China's regulator - GDP growth at any cost.

Elementary prudence and the ability to service loan obligations - is in second place. According to Soros, in a similar situation before the crisis was America 2008. Then the US GDP growth fueled exclusively borrowed capital. Most of the loans issued by Chinese banks today is to support the sinking enterprises with a minimum profitability or unprofitability even longer. A substantial part of the loans later transformed into a "bad" non-performing loans. Soros believes that China can not avoid "hard landing."

This is the main reason why the billionaire investor opens the currently extremely short positions in currencies of the entire Asian region.




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