“Ordinarily, we think of the economy affecting stock prices. I think we miss a very crucial connection here in that this whole recovery, as best as I can judge, is to a very large extent, the consequence of the market’s bottoming last March and coming all the way back. You can see the whole blossoming [...]
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Doing business in India is more difficult than doing it in China, despite the recent spate of conflicts between Western companies and the Chinese authorities, Lord Peter Levene, chairman of Lloyd’s Of London, told CNBC Wednesday.
There is a 20% chance that a credit meltdown could happen in China come 2012, warns Jim Antos, bank analyst at Mizuho Securities Asia. He assesses how the Chinese financial sector is faring, with CNBC’s Martin Soong & Karen Tso.
Source – http://www.cnbc.com/id/15840232?video=1436614364&play=1
WSJ’s Jason Dean speaks to Fred Hu, managing director at Goldman Sachs, about the biggest challenge in China’s recovery.
Fast Money: What is the biggest threat to the recovery?
Roubini: The debt ratios of banks and (individuals) are very high; (Individuals) have barely started saving. So what we’ve done is socialize these private losses and now we have a massive releveraging of the public sector with large and unsustainable budget deficits.
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