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?

The truth about Asian investment banking

September 1996

Front end


Edited by Steven Irvine


Jim's world tour

Some might see it as a perk of the job, others as an intolerable burden. Either way, Jim Wolfensohn must be one of the world's most travelled people. Since he became president of the World Bank he's been to over 30 countries and covered 111,803 miles, or 179,133 kilometres. That's the equivalent of 11.3 times around the globe, or halfway to the moon ­ all since June 1995.

The countries he's visited are about as diverse as you can get, from Mali and Malawi, to Australia, Vietnam, the West Bank and Uzbekistan. In fact he's travelled to all five continents ­ first class, of course.


Wolfensohn makes a point of travelling extensively inside the countries too ­ visiting organizations like church groups, as well as the usual business and government representatives.

Unfortunately Wolfensohn's travelling was curtailed by illness in the summer. Apart from a trip...


You must be a trialist or subscriber to view this content

Please Subscribe or take a Free Trial below.
Already a subscriber? Log in here.





Download the Free Euromoney iPad app today