[TheForge] Steel Prices

[Gladish Family]

> It's sort of a classic joke on the conservatives who have been
> slavering  for decades over the opportunity to exploit the potentially
> vast market that China represents.

I have an acquaintance who works for one of the major money outfits, whose
job is buying non-performing loans in China. To hear him tell it, the gov.
of China is pushing unsound money lending and building practices to the
point where the banking system is only held together by governmental decree.
There are huge projects all over the country that aren't and never will be
occupied, built with borrowed money, being sold to foreigners (us, in many
cases) for pennies on the dollar.
The private sector is booming for now, but it sounds like the banks are
really far out on a limb. Can't last.
Andy G.