China, what China? It seems to have diss-appeared from the news.
Kaixin - China sits quietly and watches the financial meltdown of the west; in particular the socialisation of losses.
I do not seem to recall any of the hotshot banks or their executives volunteering to socialise the profits.
So, these doyens of capitalism run to mummy and embrace communism when the proverbial hits the fan.
My suggestion to the system – grow up and take your medicine like men, and the occassional woman.
The system needs to purge these people and find new people of integrity to man the ships of capitalism and State.
Perhaps now the young whipper snipper, America, will stop telling the old man, China, about life.
No?? I don’t think so either.
From the International Herald Tribune
Rebuild trust
Ironically, a free-market-loving Republican administration is presiding over the most ambitious intrusion of government into the market in almost anyone's memory. But to what end? Bailouts, subsidies and government insurance won't help Wall Street because the Street's fundamental problem isn't lack of capital. It's lack of trust.
From Asia Times Online
Waiter, there's a banker in my soup
By Chan Akya
... And a broker. And an insurer. With the American financial giants falling like flies, Asian bankers and investors must be left wondering not just about how bad things are but also about the next source of trouble.
China's imploding US ally
By Richard Komaiko and Chris Stewart
The collapse of US insurance giant AIG and its US$85 billion takeover by the US government on Tuesday takes the US financial crisis right to the heart of China's development as a capitalist country.
A respite, but no reprieve
By R M Cutler
MONTREAL - Two Greater China exchanges were once again the most volatile and the biggest losers this week, with the Shanghai Composite losing 5.8% and the Hang Seng in Hong Kong down 2.5%. It is possible that the decline in China is not yet over, as it is slipping under the 2,100-2,200 support level to which I have long pointed, although oscillating in the 2,070s just before closing, it does have a wider band of support from the same period when that level was established in 2000-2001.
Crisis curdles China's fledgling dairy sector
By Kent Ewing
HONG KONG - China's national crisis over tainted baby milk formula has been likened to a "tsunami" for the nation's food export industry and has soured some of the biggest names in its booming, US$19 billion dairy sector. “The milk scandal is like a tsunami for the food industry," Guo Changsheng, an analyst at Shanghai Securities, told Bloomberg. "Food exports will again be greatly hurt amid concerns over quality and safety. China needs to rebuild its entire food standard system.''
