Guys do yourself a favor
Watch this 60 minutes episode on china filmed in 2013
http://www.youtube.com/watch?v=F1ZsVUB_-qg
Then watch this BBC doco on china filmed start of this year.
http://www.youtube.com/watch?v=YW3h4wv8_ko
You really need to see these if your investing in the mining industry.. Its significantly larger than subprime..
America had subprime, which were CDO's stamped with AAA sold to investors.
China has the Shadow Banking System, which are WMP's they thought were backed by the gov sold to investors with the money leant to high risk investors all starting to default now.
Think how this will impact NI prices over the next 10 years
china's future
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