Tuesday, December 22, 2015

Kyoungwha Kim — Man Who Called China's Boom and Bust Now Warns of Crisis Risks

One of the few forecasters to predict both the start and peak of China’s equity boom, is now warning the nation will be buffeted by the same forces that caused financial crises around the world over the past four decades.

Hao Hong, chief China strategist at Bocom International Holdings Co. in Hong Kong, says a shortage of dollars was the common feature in the oil rout in the 1970s, Latin American debt turmoil in the 1980s, the Asian currencies collapse in 1997 and the global crisis in 2008. Next year will see Federal Reserve interest-rate increases, an improving U.S. current-account balance and a stronger greenback, putting strains on the most-leveraged parts of the world’s second-largest economy, he says.…
Bloomberg Business
Man Who Called China's Boom and Bust Now Warns of Crisis Risks
Kyoungwha Kim


Peter Pan said...

Thoughts on this?

Tom Hickey said...

Traditional Chinese culture carried forward into the digital age.

It's frightening to Westerners who are culturally individualistic.

The Chinese are more communitarian than individualistic, and view Westerners as strange in this regard.