Stock markets around the world dropped. China’s was no exception. Continue reading »
Oct 29
minipost-(Letter) The Global Financial Crisis and China
Written by: guest | Filed under:-guest-posts, -mini-posts | Tags:financial crisis, IMF, West
1 Comment » newest
1 Comment » newest
Wall Street banks and mortgage companies went down first. Then down followed European banks. The nation of Iceland went bankrupt.
Oct 29
(Letter) Crisis and The Great Wall of China
Written by: chinayouren | Filed under:Analysis | Tags:chinayouren, Crisis, economy, Great Wall
24 Comments » newest
24 Comments » newest
During my travels these last weeks in Europe and Asia, and on my return to China, I have observed some rather striking contrasts. So much that they made me think a lot about the present state of Chinese economy, and here is a word about it.
Two different ways of seeing the world
I was in Europe for the last time the week of the “Meltdown Monday”, the one when the Lehman Brothers declared bankruptcy. Quite scary, but the news didn’t seem so surprising for anyone. Ever since the beginning of the year most people had seen the crisis coming. On the Spanish beaches, there were less tourists to be seen this summer, and the variable rate mortgages were getting stiffer for all. The governments that were not in electoral campaign had profusely announced what was to come.
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