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(Boing Boing)   Chinese shadow banks' lending boom surpasses $43 billion in loans. But don't worry, it's all secured by real estate. Nothing could possibly go wrong   (boingboing.net) divider line
    More: Scary, Debt, Loan, pawn-shop, shadow banking, reports of China, shadow finance, pawn industry, result of state crackdowns  
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652 clicks; posted to Business » on 18 Mar 2019 at 9:50 PM (17 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2019-03-18 09:57:39 PM  
Read it again subby. Just the pawn shops are $43 billion. The shadow banking industry as a whole is $9 trillion.
 
2019-03-18 10:38:26 PM  
Gambler's Fallacy and all that, but China's luck is going to run out soon, and when it does its going to make the Great Recession look like someone who forgot their wallet at home.
 
2019-03-18 11:11:02 PM  

Peter Weyland: Gambler's Fallacy and all that, but China's luck is going to run out soon, and when it does its going to make the Great Recession look like someone who forgot their wallet at home.


Let's hope they don't get all tanky again.
 
2019-03-19 05:13:17 AM  

Intrepid00: Peter Weyland: Gambler's Fallacy and all that, but China's luck is going to run out soon, and when it does its going to make the Great Recession look like someone who forgot their wallet at home.

Let's hope they don't get all tanky again.


I don't think they would get tanky. Unlike elsewhere, they can nationalize everything and order their citizens to work for the state quite easily. If the Communist party has done its due diligence, they have both the natural resources stored away and production capacity to self-sustain indefinitely.
Now, the capitalist countries around the world that benefit from the cheap labour currently might not fare so well.
 
2019-03-19 09:12:05 AM  

Peter Weyland: Gambler's Fallacy and all that, but China's luck is going to run out soon, and when it does its going to make the Great Recession look like someone who forgot their wallet at home.


China has a five-year plan for solving it.
 
2019-03-19 09:49:43 AM  

outtatowner: I don't think they would get tanky. Unlike elsewhere, they can nationalize everything and order their citizens to work for the state quite easily.


Orders take enforcement. What do you think they do to make them?
 
2019-03-19 10:19:09 AM  

Intrepid00: outtatowner: I don't think they would get tanky. Unlike elsewhere, they can nationalize everything and order their citizens to work for the state quite easily.

Orders take enforcement. What do you think they do to make them?


Easy - their social score will suffer if they don't comply.  Lower someone's social score enough and they are effectively paralyzed and cut off from doing anything.  Try to help someone with a low score will lower your own.

Its like the elephant with the flimsy rope tying it to the stake...you and I know it can escape but it has been trained to never try.
 
2019-03-19 10:29:30 AM  

BumpInTheNight: Intrepid00: outtatowner: I don't think they would get tanky. Unlike elsewhere, they can nationalize everything and order their citizens to work for the state quite easily.

Orders take enforcement. What do you think they do to make them?

Easy - their social score will suffer if they don't comply.  Lower someone's social score enough and they are effectively paralyzed and cut off from doing anything.  Try to help someone with a low score will lower your own.

Its like the elephant with the flimsy rope tying it to the stake...you and I know it can escape but it has been trained to never try.


That still takes enforcement.
 
2019-03-19 11:04:31 AM  

This text is now purple: Peter Weyland: Gambler's Fallacy and all that, but China's luck is going to run out soon, and when it does its going to make the Great Recession look like someone who forgot their wallet at home.

China has a five-year plan for solving it.


Will it involve any "large jumps ahead?"
 
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