chinese debt out of control, page-33

well fair go Barney you said you go there once a month?

This isnt an east vs west debate , the west is in diabolical trouble . I also have a huge affection for the Chinese, there culture and spirit.

and sorry if I sound like Im dissing you Im not

I have just spent a lot of time there and know a lot of people. I was being told horror stories about the Bullet train as soon as the project started and ive been told horror stories (and seen) exactly the same issues right across Chiense infrastructure projects. I had the owner of LLA at my place 2 weeks ago

http://www.lla.com.hk/eng/

If he doesnt know whats going on across the infrastructural project landscape no one does.

I have been onsite at some time or other at nearly all the major Chinese banks. In the last decade Ive probably been to every Asian country ex Japan +40 time each and Ive met multiple execs at banks in each country many many times. My specialty during most of that period has been trade finance, risk management, AML, document and record management and Business process management software systems (as well as others).

In addition my partner until 3 years ago owned the largest surf brand retail chains in Honk Kong and China. Shes been sourcing form Chinese factories for 20 years and established on of the well known surf brands on the mainland

I could be completely wrong but IMO the Chinese monetary policy is lunacy of an order never seen before. I dont like herds, whenever herds occur in investment or ideas its time to examine the contrary arguments, its a sign that things have gone to far in a particular direction.

The pro Chinese herd has gone to far, the anti American one has as well. I know all arguments for why the Chinese are going to rule the world , its just in my mind they seem to be in conflict with commonsense. You simply cant expand credit at +25% a year over year and not expect repercussions , similarly you cant expect to build up reserves in one part of the economy while burning money through a credit explosion in another.