Euromoney’s 2012 FX survey results

Euromoney’s 2012 FX survey results

Access the results now

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 1997

The great IMF sell signal



Oriental Hotel,
Bangkok, Thailand

I am putting on the hot and green curry, which is a speciality dish here and resembles a mangrove swamp but comes on very nicely, at that, when a notion lights up in my head like a bulb, a whole new law of markets: always go short of a country that stages an IMF meeting.

I mean, when I am last in Bangkok it is six years ago and they put on a truly great meeting, everyone who survives it enjoys it, the joint is jumping and the economy is tigerish, we all want a piece, but just look at it now, up the swamp without a mangrove, money owing everywhere, your boy in here on a salvage job and the IMF trudging back to mop up.

Mom, you know how one year in every three the IMF moves out of town, all those desk jockeys...


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