The Difference Between Chinese Banks and American Banks
Filed in archive News by Greg Cruey on September 18, 2008
What is the difference between a chinese bank and an American bank? A Chinese bank has money...
Okay, I stole that joke from Richard Brubaker over at All Roads Lead to China. He goes on to point out that China's yuan RMB is the currency that supports both US and Chinese banks (I guess since China buys so many treasury notes).
And he points out the irony that five years ago American banks were bemoaning the fact that 20-30% the loans at Chinese banks were non-performing.
Life's funny...
© Aaron.huo
Okay, I stole that joke from Richard Brubaker over at All Roads Lead to China. He goes on to point out that China's yuan RMB is the currency that supports both US and Chinese banks (I guess since China buys so many treasury notes).
And he points out the irony that five years ago American banks were bemoaning the fact that 20-30% the loans at Chinese banks were non-performing.
Life's funny...
© Aaron.huo
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