China is about to go down exactly the same path that led to America's and thus the globe's financial meltdown of 2008. In a nutshell, the China Banking Regulatory Commission wants China's banks to issue collateralized debt obligations (CDOs) to domestic as well as international markets. Some RMB50 billion has been granted by the regulators already.
Flee from Chinese CDOs!
Flee from Chinese CDOs!
Flee from Chinese CDOs!
China is about to go down exactly the same path that led to America's and thus the globe's financial meltdown of 2008. In a nutshell, the China Banking Regulatory Commission wants China's banks to issue collateralized debt obligations (CDOs) to domestic as well as international markets. Some RMB50 billion has been granted by the regulators already.