The truth about Asian investment banking
China’s $1.7 trillion hangover

China’s $1.7 trillion hangover

Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?

September 2002

A little less action, a little more conversation please


IMF/World Bank meeting


As delegates and protesters descend on Washington DC for this year's IMF and World Bank annual meetings, nobody is sure quite what to expect. It's certain that the proceedings will be overshadowed by security concerns as never before, though. This time, the familiar risk that protesters will manage to shut the meetings down is joined by the far graver threat of terrorism.

The institutions themselves play down the differences from previous years. The agenda will include the usual subjects for discussion - the state of the international economy, progress on poverty reduction and the heavily indebted poor countries initiative, and efforts to combat international terrorism and money-laundering. The usual round of speeches and seminars will go ahead and many familiar faces will be there. ...


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