On Nov 9, 2010, at 9:08 PM, dredmond at efn.org wrote:
> On Tue, November 9, 2010 3:01 pm, Max Sawicky wrote:
>
>> The Chinese move seems political to me, in re: the QE2 palaver.
>
> Dagong isn't some Astroturf group cooked up to make headlines. Judging by
> its mandate, stated methodology and research reports, it's clearly meant
> to be a sovereign ratings agency, design to help cash-rich Chinese
> institutions make informed decisions about foreign investments around the
> world. So this isn't about some quick exit from the US dollar, but about a
> long-term diversification of trade and investment towards the other BRICs
> and rising semiperipheral economies -- the sinews of multipolarity.
How would they rate China? I keep hearing that their banks are heavily exposed to a leveraged real estate boom.
Doug