Given the current state of the world’s financial markets, we could not find a better quote than that provided, back in July 2007, by Liu Mingkang, the Chinese banking regulator:
 
“Only when the tide goes out can you see who is swimming naked! It is essential to take measures in good time”.
 
Indeed!
 
Perhaps, as he was referring [...]

China’s economy may have been spared the worst of the sub-prime write-downs (though the Chinese banking and political system has some interesting experience in the are of non-performing loans!), but the economic situation is not without challenges. Leading the problem pack is inflation. Xinhua reports:

“The Industrial and Commercial Bank of China (ICBC) is forecasting an [...]