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China tells banks to halt lending
Jamil Anderlini, Sundeep Tucker
and Jennifer Hughes
FT.com
Thursday, January 21st, 2010
Chinese regulators have told some banks temporarily to halt
lending amid growing fears of asset bubbles and inflation.
The renewed efforts to rein in credit growth after a burst
of frantic lending activity by Chinese banks that have raised
concerns about overheating in the Chinese economy.
The crackdown prompted stock market falls around the world
as investors worried that China’s tightening could cool
its strong growth and dent expectations for the global recovery.
“This sort of baby step tightening doesn’t look
like much but when you’ve had such rampant credit growth,
it doesn’t take much for it all to end in tears,”
said Albert Edwards, global strategist at Société
Générale.
Full
article here
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INFOWARS:
BECAUSE THERE'S A WAR ON FOR YOUR MIND
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