China's banking turmoil: 40 banks vanish, Jiangxi leads collapse

[uranium]

MSN

All because of Evergrande
is already fourth year and still impacting Chinese economy

 

[jafo]

This is a two-part answer:

(1) Do NOT believe ANYTHING the West claims about their enemies & those they can't subjugate and vice-versa, i.e., don't believe ANYTHING China or Russia claims about the West either! This wisdom escaped me during my youth and has literally cost me billions! (due to my failure to capitalize on compounding interest and opportunity cost ).

(2) Banks that overextend or engage in risky investments and put their customers' deposits at risk deserve NOTHING other than this:

Going bankrupt should be the least of their worries!

As I mentioned previously:

Source: Diving Deep into OPSEC: Let's Guard Our Data

There are NO "grey" morals, ethics, or loyalty! It's akin to being pregnant. Either you are xor not! All those banks that failed, their directors, and those who engaged in bad decisions should pay with their own money...or sell their blood to cover their follies.

This is how one should handle these idiots:

Source: Chinese authorities have told Evergrande's billionaire founder to use his own money to pay down the company's $300 billion debt, Bloomberg reports

Give him a chance to redeem himself...if he fails... bring out the guillotine!

 

[EliasIT]

Are you denying that China is on a dangerous path and at an ultra-high risk of their economy collapsing?"

 

[jafo]

Are you denying that China is on a dangerous path and at an ultra-high risk of their economy collapsing?"

I hope not!
If China collapses, we're all so f*cked! They are the world's manufacturing hub!

Source: China is 'world's sole manufacturing superpower', with 35% of global output - Geopolitical Economy Report

1. I don't want China to collapse.
2. I don't want the USA to collapse (They are like +16% - and I have a huge chunk of my investments, specifically, MSFT, AAPL, KO, BRKA, etc, in the US)
3. I don't even want the EU to collapse. 75% of my family lives in Europe now. The rest emigrated from Europe to Latin America (10%), Asia (10% Macau, Singapore, etc.), and the USA and Canada (5%).

I personally know several of my clients in Latin America who are rich beyond belief but whose businesses would go bankrupt tomorrow if China stopped buying animal protein products and fresh produce. The same is true for several in the US.

I pray none of them go bankrupt. Those who were careless and irresponsible with money and invested recklessly should pay with their own "skin," and their folly should NOT overspill and taint any of us.