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The Great Depression II  
User currently offlineZone1 From United States of America, joined Jan 2005, 1035 posts, RR: 7
Posted (7 years 7 months 3 weeks 2 days 13 hours ago) and read 1415 times:

This time it will start in China.

"Xiao Feng, a former investment consultant at a futures company in Nanjing, put his three apartments and two vehicles - worth 5 million yuan - up as collateral days ago to get a 10 million yuan loan to invest in the stock market.

But the cost of borrowing is high - with an annual interest rate of 25 percent, he'll have to pay the lender 2.5 million yuan in interest at the end of the year, reported the Nanjing Morning Post on Wednesday."


http://www.chinadaily.com.cn/china/2007-05/11/content_870395.htm


/// U N I T E D
1 replies: All unread, jump to last
 
User currently offlineNewark777 From United States of America, joined Dec 2004, 9348 posts, RR: 29
Reply 1, posted (7 years 7 months 3 weeks 2 days 12 hours ago) and read 1385 times:

Quoting Zone1 (Thread starter):
with an annual interest rate of 25 percent

Damn, that's crazy!  Wow!

Wouldn't want to be borrowing in China right now.

Harry



Why grab a Heine when you can grab a Busch?
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