Posted by Dan Denning on Apr 30th, 2007
Is China’s fantastic bull market just an extension of the world’s tawdry and very public love affair with cheap credit? We’ll begin to find out this week as the Bank of China again raised reserve requirements at commercial banks. This is meant to reduce bank lending in China. And the government wants THAT to happen in order to curtail the huge investment boom that’s driving China’s economy to a frenzy.