FAST FIVE: Now, Everyone Pays The Piper: The End Of China's Economic Miracle
Like the many other similarly foolish western nations, China seeks only one path out of this fiscal death spiral, one that will likely spell doom and/or revolution in many countries soon: More debt.
China's method of stimulus is of course distinguished from today's American model that merely shovels the injection of its own manufactured $Trillions by using multiple fiscal tricks to by-pass the citizenry and instead shovel the cash straight into the wallets of the already super-wealthy.
In a sign of the disaster to come, the first Bank to almost fail was Baoshang Bank Co.
With this amounting to over 570 banks, and thus multiplied by the three existing examples of bank bail-out funding, with the Chinese economy following the world into recession, the financial numbers and likelihood of any future series of bail-outs are truly biblical.
The trust companies create investment products like WMPs, which banks market for them in return for a commission.