Is China preparing itself for a Worldwide Currency Collapse?
Interesting news today the China Banking Regulatory Commission has tightened capital requirements for overseas lending on a country by country basis, the rate varies between 0.5% and 50% I am really keen to get my hands on that list!
This follows on from a directive last August to tighten capital requirements after there was an explosion in lending volume in Jan-Mar 2009.
The Chinese as I can see are acknowledging that there is an ongoing financial crisis and are prepared to be honest about it, this philosophy will bode them well in the coming years.
