Will subprime crisis cool China growth? |
| MarketWatch - Jan 23, 2008 |
The U.S. subprime crisis may be able to help accomplish what China's central bankers have yet to do -- rein in China's banking industry and its fast-pitched economic growth and inflation.
Adding to recent reports of a big subprime write-down at Beijing-based Bank of China Ltd., a Chinese senior economist on Tuesday said he expected rising nonperforming assets at China's biggest lenders, fueled by their subprime exposure and tighter domestic credit.
"With the spreading of the U.S. subprime crisis and a slew of tightening measures to stop economic overheating and rising inflation, the bad assets ratio in the banking industry and the risk of fluctuations in the capital markets are growing," said Zhong Wei, an economics professor at Beijing Normal University, in an interview with the state-run Financial News.
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- Posted: 2008-01-23 09:40:19
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