“In China, remember, the the banks are arms of state policy. They loan because the local party official or regional party official tells them we need a new stadium. They are instruments of state policy.” NeedsStatesRememberPartyPolicyArmsInstrumentsChinaLocalsOfficialsLoanStadiums Author:James Chanos
“Increasingly, the real estate developers can't get bank loans for their project financing in China. They're now going into the Hong Kong market to raise money in the bond market at very, very high rates, as high as 15, 20 percent.” RealProjectsPercentRaisesRateChinaEstatesLoanFinancingHong KongDevelopersBond Market Author:James Chanos
“What people don't realize is that China papered over its last two credit bubbles, those in 1999 and 2004. The banks were never bailed out - they just exchanged their bad loans for questionable bonds from quasi-state organizations.” PeopleTwoStatesLastsRealizingOrganizationChinaCreditOver ItBubblesLoanQuestionable Author:James Chanos
