> 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