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Tuesday, June 12, 2012
Friday, June 8, 2012
China's economy hasn't foreign banks!
Walt Disney (DIS) didn’t have trouble raising money for its $4.4 billion theme park in Shanghai. After it won approval in 2009, a dozen Chinese banks sprang into action, offering $2 billion in loans and promising more. Foreign lenders, limited by the Chinese government in how much they can lend, watched from the sidelines. The size of the deal put it beyond their reach.
Thursday, June 7, 2012
Spain in the field of crisis!
As Greece prepares for a June 17 election that may determine whether it exits the euro, the attention has shifted to Spain, where the problems are different—and much larger. Greece’s troubles stem from excessive government borrowing; Spain suffers from a property bust and its banks remain crippled by an estimated €184 billion ($230 billion) in troubled real estate assets. The government is struggling to devise a rescue plan as the country grapples with a deepening recession and 24 percent unemployment.
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