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Thread: China hunts fugitive commodities trader
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[quote=MARRIE,307721]Do we (Chinese) have credit crunch? Do we have bad debts? Yes we have. But we have state owned banks that never bankruptcy no matter how much those ‘privileged parasite’ whale swallow state wealth in legal disguise in mismanaged credit market which is driven by administrative demands instead of market force. The fundamental restructuring referencing to western matured system will be painful before it really is able to be capable player in world market once China is totally open its financial market. The man who is being hunted is said to be fleeing for LosAngelos. I am wondering what probability it is that Chinese police catches this man and how this man is going to laundry money. The second article is another example of embezzlement and mismanagement of credit market that results in chains effect on the failure of futures market. [/quote]
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