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  • April 17, 2014
  • Last updated: 8:51am
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  1. Comment - Insight & Opinion

    Fixing China's debt burden will bring pain before it brings relief

    Posted Mar 24th 2014, 03:33am by Lim Say Boon

    ... Lim Say Boon Lim Say Boon says while China's debt problems are nowhere near crisis levels, they must be tackled sooner rather than later or they will continue to sap the economy of the vitality it needs to transform Burden to bear Damned if they do, damned if they don't: Chinese policymakers are in a corner over the country's debt problems. Even with local government ...

  2. Business - Economy - COMMENT

    Letting the air out of the bubbles

    Posted Apr 02nd 2014, 11:28am by JOE ZHANG

    ... on to their holdings of housing units if the prices should weaken, provided that they have the holding power. China's households are very under-geared. Credit card debt is a tiny fraction of banking ...

  3. Comment - Insight & Opinion

    Rumours of a Chinese crash are greatly exaggerated

    Posted Apr 16th 2014, 05:12pm by Yu Yongding

    ... this is China's fate. While China's debt-GDP ratio is very high, the same is true in many successful East Asian economies, such as Taiwan, Singapore, South Korea, Thailand and Malaysia. And China's saving rate is much higher. Ceteris paribus, the higher the saving rate, the less likely it is that a high debt-GDP ratio will trigger a financial crisis. In fact, China's high ...

  4. Comment - Insight & Opinion

    Local government debt shows needs to reform financial and tax system

    Posted Jan 07th 2014, 03:03am by SCMP Editorial

    ... the disclosure in 2011 that by the end of 2010, local authorities had run up total debt of 10.7 trillion yuan (HK$13.6 trilion). It has turned out to be a well-founded concern. In a long-awaited report ordered by the State Council, the National Audit Office says local government debt, including contingent liabilities and guarantees, had risen by nearly 70 per cent to 17.9 trillion yuan ...

  5. Comment - Insight & Opinion

    China must resist the temptation of economic stimulus for quick relief

    Posted Apr 16th 2014, 05:18pm by Hu Shuli

    ... trillion at exchange rates then). Today, the country's basic infrastructure has improved, particularly in the more developed regions. Local government debt has surged, and the overall debt-to-GDP ratio is too high. Moreover, both the money supply and the financial sector have grown substantially, limiting the range of the government's fiscal and monetary tools; a single wrong ...

  6. Comment - Insight & Opinion - LEADER

    Automatic bailouts no longer an option in China

    Posted Mar 28th 2014, 03:54am by SCMP Editorial

    ... SCMP Editorial Instant bailouts not an option It was to be expected that debt defaults on the mainland would fuel rumours about bank solvency sooner or later. The result has been a run ... unwarranted. It may be only a small lender, but the run not only reflects the perception of fragility of a wider financial system awash with debt but also, more worryingly, a growing lack of confidence ...

  7. Comment - Insight & Opinion - MY TAKE

    When computers take over trading …

    Posted Apr 14th 2014, 04:28am by Alex Lo

    ... in which computers trade with each other without regard to the purpose and well-being of the human owners of equities and debts? Well, most of the humans anyway. Presumably, the algorithms ...

  8. Comment - Insight & Opinion

    Breaking the chains of human trafficking in Hong Kong

    Posted Apr 10th 2014, 05:16am by ARCHANA KOTECHA

    ... the rule of law. For us to move forward, we must acknowledge that trafficking for forced labour and debt bondage do take place in Hong Kong. This involves recognising the need for legal reform, ... and the alleged abuse of Erwiana Sulistyaningsih- plus reports of extreme overcharging of agency fees, which often leads to debt bondage. There is mounting pressure on the government to address the issue ...

  9. Comment - Insight & Opinion - LEADER

    The devil is in the detail of China's urbanisation blueprint

    Posted Mar 31st 2014, 04:09am by SCMP Editorial

    ... household registration will present challenges staggering in their scale and complexity, including the question of where debt-burdened local governments will get the money for essential services ... debt financing. The ultimate challenge will be for places with new populations to develop sustainable growth that creates jobs and flow-on economic benefits. It is a good plan, but the devil ...

  10. Comment - Insight & Opinion - LEADER

    Hong Kong can have zero tolerance for forced labour by domestic helpers

    Posted Mar 30th 2014, 04:55am by SCMP Editorial

    ... and perpetrators are operating unhindered. They have called on the government to broaden the definition of trafficking and to legislate to target forced labour, domestic servitude and debt bondage. As we ... cases of alleged abuse of domestic helpers bear many hallmarks of forced labour, such as contractual deception, excessive agency fees leading to debt bondage and retention of passports. While ...




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