China disposes of surplus capital

Chris Burford cburford at gn.apc.org
Sun Apr 25 07:07:19 PDT 1999



>From the Economist from about a week ago


> CHINA began to get to grips with huge debts at its four big state banks
> by setting up a clean-up firm, Xinda Asset Management, to help one of
> the banks, China Construction Bank, to dispose of its bad loans. If
> that works, similar firms will be set up for the other three.

How does this differ from capitalist processes of destroying surplus capital?

A hard question for Henry or anyone else, but any comments?

Chris Burford

London



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