China Provincial Loans in 'Deferment'

[JimBowie1958]

Provincial borrowers defer loan payments | Economy | chinadaily.com.cn

BEIJING - China's biggest provincial borrowers are deferring payment on their loans just two months after the country's regulator said some local government companies would be allowed to do so.

Hunan Provincial Expressway Construction Group is delaying payment on 3.11 billion yuan ($490.5 million) in interest, documents governing the securities show this month. Guangdong Provincial Communications Group Co, the second-largest debtor, is following suit. So are two others among the biggest 11 debtors, for a total of 30.16 billion yuan, according to bond prospectuses from 55 local authorities that have raised money in capital markets since the beginning of November.

As local governments delay payments for projects commissioned as part of the stimulus to ward off recession in 2009, less money is available for bank lending even as China is taking steps to inject more into the economy. The central bank has held interest rates at 6.56 percent since July to boost the economy, while the US Federal Reserve and the Bank of Japan have kept benchmark rates near zero since 2008.

"When companies start to roll over debt they're not retiring debt, and banks aren't retrieving their capital, so you're crowding out new lending," Patrick Chovanec, a professor at Tsinghua University in Beijing, said in a Dec 13 interview. "This is a problem that's going to start to bite next year."

So the Chinese depression is finally starting to roll out, and Japan and Australia will catch it in the shins. Will add just one more pile of stress to global finance.

How much longer before the whole global economy does a nose dive?

 

[EdwardBaiamonte]

So the Chinese depression is finally starting to roll out,

please don't try to predict the future. One could just as easily conclude that if it was going to happen it would have happened already. So much of their economic growth is mere modernization
that even with liberal blunder after liberal blunder they can maintain 5-10% growth for a long time to come.

 

[theliq]

Provincial borrowers defer loan payments | Economy | chinadaily.com.cn

BEIJING - China's biggest provincial borrowers are deferring payment on their loans just two months after the country's regulator said some local government companies would be allowed to do so.

Hunan Provincial Expressway Construction Group is delaying payment on 3.11 billion yuan ($490.5 million) in interest, documents governing the securities show this month. Guangdong Provincial Communications Group Co, the second-largest debtor, is following suit. So are two others among the biggest 11 debtors, for a total of 30.16 billion yuan, according to bond prospectuses from 55 local authorities that have raised money in capital markets since the beginning of November.

As local governments delay payments for projects commissioned as part of the stimulus to ward off recession in 2009, less money is available for bank lending even as China is taking steps to inject more into the economy. The central bank has held interest rates at 6.56 percent since July to boost the economy, while the US Federal Reserve and the Bank of Japan have kept benchmark rates near zero since 2008.

"When companies start to roll over debt they're not retiring debt, and banks aren't retrieving their capital, so you're crowding out new lending," Patrick Chovanec, a professor at Tsinghua University in Beijing, said in a Dec 13 interview. "This is a problem that's going to start to bite next year."

So the Chinese depression is finally starting to roll out, and Japan and Australia will catch it in the shins. Will add just one more pile of stress to global finance.

How much longer before the whole global economy does a nose dive?

Well the Chinese should call in all their American loans and they will be fine,but America will be put back a couple of hundred years.....at least.....you should watch what you wish for.

I note with some surprise that two days ago the Chinese and Japanese have agreed to trade monitarily between themselves,eliminating the US Dollar completely,Argentina already trade in the Yen,thus no more need to use the US Dollar,this situation will only increase as the dominance of China grows. tl Shed no tear for Australia,as China,Japan and now massive investment from India will keep that economy bouyant for at least 50 years.Australia the worlds smallest continent,the worlds largest Island,Great one day,Brilliant the Next.just saying.

 

[theliq]

So the Chinese depression is finally starting to roll out,

please don't try to predict the future. One could just as easily conclude that if it was going to happen it would have happened already. So much of their economic growth is mere modernization
that even with liberal blunder after liberal blunder they can maintain 5-10% growth for a long time to come.

So True tl

 

[EdwardBaiamonte]

Well the Chinese should call in all their American loans and they will be fine,but America will be put back a couple of hundred years.....at least.....you should watch what you wish for.

Last I saw, China owns $1.2 trillion in US Treasuries; they are not callable so we don't have to worry about a 200 year setback.

 

[theliq]

Well the Chinese should call in all their American loans and they will be fine,but America will be put back a couple of hundred years.....at least.....you should watch what you wish for.

Last I saw, China owns $1.2 trillion in US Treasuries; they are not callable so we don't have to worry about a 200 year setback.

Well lucky for you,but you have lived well beyond your means,and don't the rest of the world know it,your greed and selfishness has done untold harm to the world in general........Maybe a country like Australia could run your fiscal and economy much better than the unregulated clowns you have had in the past.Australia as always punching well above its weight.Always ready to help...our American Cousins.

 

[EdwardBaiamonte]

,your greed and selfishness has done untold harm to the world in general.........

You mean by inventing freedom in 1776, saving the world from the Nazis and recreating it in our image, inventing space travel, saving 30 million Chinese from en masse liberal starvation with the capitalist example they are now copying, or by holding 80% of all recent medical patents which will transform medical care. Are you waiting for France to cure the cancer or heart disease you will get one day??

 

[theliq]

,your greed and selfishness has done untold harm to the world in general.........

you mean by inventing freedom in 1776, saving the world from the Nazis and recreating it in our image, inventing space travel, saving 30 million Chinese from en masse liberal starvation with our capitalist example, or by holding 80% of all recent medical patents?

Your on a hiding to nothing with me,Australians don't take a backward step.
Now to shred your prose,firstly America dispite so many requests were late to WW2,prior to their involvement,some Americans were Pro Nazi,some US Banks lent them money as you full well know or should.Oooooo I thought the Ruskies also had a Space Programme and the first man in space,Yuri Gagairin...something you must have overlooked,much like the absurdity of America winning WW2........its called Hollywood History and its BULLSHIT.Yes America did a great job and RESPECT to all who served and passed in this hedious conflict but they did not do it alone,show some Respect to the British,French,Australians,Poles,Kiwis and everyone else.As for the Chinese,well they generated and applied their own form of Como/Capitalism.

Now where were you,thats right you invented FREEDOM,what a crock of shit,ask the native Americans,ask the African Americans who YOU enslaved,and the telling factor, The American Civil War,the illegal overthrow of the Kingdom of Hawaii.Nice form of FREEDOM I MUST SAY.You are not free today because you carry too much baggage,are you aware that since its inception America has been at WAR with someone.It is this mentality that is so prevelent still in the US today......Hate Everyone because Everyone Hates US. Again What absolute BOLLOCKS.You need to grow up. I'm theliq....I tell it like it actually is

 

[EdwardBaiamonte]

Now to shred your prose,firstly America despite so many requests were late to WW 2,

actually we didn't have to come at all so not late at all!! So sorry! But we did make victory over the Japanese and Nazis possible and recreate the world in our very very civilized image.

prior to their involvement,some Americans were Pro Nazi,some US Banks lent them money as you full well know or should.

some Americans were serial killers too but we weren't talking about some Americans were we???????

Oooooo I thought the Ruskies also had a Space Programme and the first man in space,Yuri Gagairin...something you must have overlooked,

yes they had a atom bomb too but it was mostly stolen form the USA. FYI they had about 15% of our GDP at the time and had starved about 65 million to death. This is your example??

much like the absurdity of America winning WW 2........its called Hollywood History and its BULLSHIT.Yes America did a great job and RESPECT to all who served and passed in this hedious conflict but they did not do it alone,show some Respect to the British,French,Australians,Poles,Kiwis and everyone else.

yes there was the USA and everyone else. We took 95% of the causalities on IWO and were 80% responsible for stopping them with the bomb! Australia would have been a mere comfort nation like China were it not for the USA.

As for the Chinese,well the generated and applied their own form of Como/Capitalism.

there would be no capitalism on earth were it not for America. The Chinese Premier Jiaboa came here and openly talked of Milton Friedman and Adam Smith. America created modern China!!

Now where were you,thats right you invented FREEDOM,what a crock of shit,ask the native Americans,ask the African Americans who YOU enslaved,and the telling factor, The American Civil War,the illegal overthrow of the Kingdom of Hawaii.Nice form of FREEDOM I MUST SAY.

dear, are you nuts??? of course I didn't say our record was instantaneous?????? but, the end result was to set in motion the process that saved civilization on earth several times over.

You are not free today because you carry too much baggage,are you aware that since its inception America has been at WAR with someone.

yes we have been the worlds savior, the empire of liberty. There has always been a war to fight. Did you like the Nazis or Taliban or Tojo? or Sadam?? What is wrong with you? We pick our enemies exceptionally well!

It is this mentality that is so prevelent still in the US today......Hate Everyone because Everyone Hates US.

dear, hating Hitler is not hating everyone????? Do you think at all before you write???

 

[theliq]

Now to shred your prose,firstly America despite so many requests were late to WW 2,

actually we didn't have to come at all so not late at all!! So sorry! But we did make victory over the Japanese and Nazis possible and recreate the world in our very very civilized image. EXCUSE ME PUTTING MY ANSWERS HERE...YOU WERE LATE,YOU CAME IN AFTER PEARL.

prior to their involvement,some Americans were Pro Nazi,some US Banks lent them money as you full well know or should.

some Americans were serial killers too but we weren't talking about some Americans were we??????? RIDICULOUS COMMENT AND NO ANSWER




yes they had a atom bomb too but it was mostly stolen form the USA. FYI they had about 15% of our GDP at the time and had starved about 65 million to death. This is your example??YOU WERE TALKING ABOUT THE SPACE PROGRAMME,BUT WHILST WE ARE ON IT,YOU USED A FAIR FEW EX-NAZI IN YOUR SPACE AND NUCLEAR PROGRAMMES,SO MUCH FOR AMERICANS





yes there was the USA and everyone else. We took 95% of the causalities on IWO and were 80% responsible for stopping them with the bomb! Australia would have been a mere comfort nation like China were it not for the USA. SORRY JUST DO NOT UNDERSTAND YOUR ANSWER



there would be no capitalism on earth were it not for America. The Chinese Premier Jiaboa came here and openly talked of Milton Friedman and Adam Smith. America created modern China!! WELL,FIRSTLY YOU GO BACK TO 1770,NOW MODERN DAY BUT SAYING THAT,THERE WERE FORMS OF CAPITALISM PRIOR TO THE ESTABLISHMENT OF AMERICA,AND MOST BRITISH AND EUROPEANS REALLY ESTABLISHED AMERICA




dear, are you nuts??? of course I didn't say our record was instantaneous?????? but, the end result was to set in motion the process that saved civilization on earth several times over.YOU DID IMPLY IT

You are not free today because you carry too much baggage,are you aware that since its inception America has been at WAR with someone.

yes we have been the worlds savior, the empire of liberty. There has always been a war to fight. Did you like the Nazis or Taliban or Tojo? or Sadam?? What is wrong with you? We pick our enemies exceptionally well!YET YOU SUPPORTED DESPOTS AND STILL DO,INCLUDING MANY YEARS WITH SADDAM PRIOR TO THE WARS,SO MUCH SO,REMEMBER RUMSFELD PHOTO CUDDLING SADDAM,AND IRAQ AFTER ALL THE INTERVENTION IS STILL A BASKET CASE,saying that Respect to your MILITARY,they paid too heavy a price,much like our own.

It is this mentality that is so prevelent still in the US today......Hate Everyone because Everyone Hates US.

dear, hating Hitler is not hating everyone????? Do you think at all before you write???

NO I WASN'T REFERRING TO hitler,MOSLEMS,EUROPEANS VARIOUS,SOUTH AMERICANS,MEXICANS ETC.,AND even the spite between DEMS and REPUB's(each other).

Keep Spewing....You are so WRONG,WRONG,WRONG.TL please note EDWARD...I could never give hitler anything but contempt,that's why I NEVER spell his name with a CAPITAL LETTER

 

[EdwardBaiamonte]

EXCUSE ME PUTTING MY ANSWERS HERE...YOU WERE LATE,YOU CAME IN AFTER PEARL.

we did not have to come in at all. Lucky for you we did to save you and to save civilization itself. Admit it!

some Americans were serial killers too but we weren't talking about some Americans were we??????? RIDICULOUS COMMENT AND NO ANSWER

you were critical of some Americans and so indicted all Americans which was very stupid

YOU WERE TALKING ABOUT THE SPACE PROGRAMME,BUT WHILST WE ARE ON IT,YOU USED A FAIR FEW EX-NAZI IN YOUR SPACE AND NUCLEAR PROGRAMMES,SO MUCH FOR AMERICANS

so much??? Their GDP was 40% of ours at the time of the collapse and would have been 20% if they had not stolen so much from us. we beat them and saved the world, now even China is following our example and literally saving 50 million from starvation. Did you love the USSR??

SORRY JUST DO NOT UNDERSTAND YOUR ANSWER

we saved Australia from a long slow death at Japanese hands

WELL,FIRSTLY YOU GO BACK TO 1770,NOW MODERN DAY BUT SAYING THAT,THERE WERE FORMS OF CAPITALISM PRIOR TO THE ESTABLISHMENT OF AMERICA,AND MOST BRITISH AND EUROPEANS REALLY ESTABLISHED AMERICA

Actually America was established in a war against England, not established by England or the old world. You might say we are the new world, not the old world although we came from the old world. Are these distinctions over your head?

dear, are you nuts??? of course I didn't say our record was instantaneous?????? but, the end result was to set in motion the process that saved civilization on earth several times over.YOU DID IMPLY IT

everyone knows the history so no one would imply it

!YET YOU SUPPORTED DESPOTS AND STILL DO,INCLUDING MANY YEARS WITH SADDAM PRIOR TO THE WARS,SO MUCH SO,REMEMBER RUMSFELD PHOTO CUDDLING SADDAM,

so what???? it was a tactical alliance like that with Stalin

AND IRAQ AFTER ALL THE INTERVENTION IS STILL A BASKET CASE,

.

the USA was a basket case after the revolution too and so was France. There are no guarantees of course but we did remove one of the most evil rulers and earth and do our level best to establish a democracy there. As always in our very saintly manner, we only asked for a place to bury our dead in return. The world has seen nothing like the USA, ever.

NO I WASN'T REFERRING TO hitler,MOSLEMS,EUROPEANS VARIOUS,SOUTH AMERICANS,MEXICANS ETC.,AND even the spite between DEMS and REPUB's(each other).

so then why be so afraid to say to whom you were referring??????????

Keep Spewing....You are so WRONG,WRONG,WRONG.:

if so why be so afraid to say about what exactly???

 

[DSGE]

This has turned into the worst conversation...

 

[EdwardBaiamonte]

This has turned into the worst conversation...

Why be so afraid to show a substantive example of where I've been mistaken?

 

[DSGE]

This has turned into the worst conversation...

Why be so afraid to show a substantive example of where I've been mistaken?

I'm sorry did I accuse anybody of making a mistake?
Pretty sure I was just pointing out some tedium.

 

[Unkotare]

Well the Chinese should call in all their American loans and they will be fine,but America will be put back a couple of hundred years.....at least.....you should watch what you wish for.

That's not how it works, you fucking moron.

 

[theliq]

This has turned into the worst conversation...

Yes and I know WHY,thin skinned Americans,you like to critisize everyone else(ie,America won WW2,bull,America got freedom,yes at a price to other,funny though how very few worldwide want American style democracy,as has been seen clearly in Iraq and Afghanistan when offered....other cultures unfortunately don't seem to embrace our type of living style.

So our friend above says America is the Greatest but other folk don't necessarily agree.

tl

 

[Unkotare]

Still not taking your meds, you hypocritical, moronic, braindead shitbag loser?

 

[theliq]

Well the Chinese should call in all their American loans and they will be fine,but America will be put back a couple of hundred years.....at least.....you should watch what you wish for.

That's not how it works, you fucking moron.

Pay YOUR DEBT BACK THEN,its NOT HOW IT WORKS...ya fcking idiot for most people or countries,its called imprudence or in your case Stupidity.tl

 

[Unkotare]

Well the Chinese should call in all their American loans and they will be fine,but America will be put back a couple of hundred years.....at least.....you should watch what you wish for.

That's not how it works, you fucking moron.

Pay YOUR DEBT BACK THEN,its NOT HOW IT WORKS...ya fcking idiot for most people or countries,its called imprudence or in your case Stupidity.tl

You know as little about economics, finance, and international relations as you do about anything else, you fucking hypocritical moron.

 

[theliq]

Still not taking your meds, you hypocritical, moronic, braindead shitbag loser?

Sorry I'm self made RICH.tl but always paid debt when I had it.....UNLIKE YOU